8-day National SME product fair kicks off

Prime Minister Sheikh Hasina virtually inaugurated the 9th National SME Product Fair-2021 on Sunday at the Bangabandhu International Conference Center.

As the chief guest, the PM also distributed the National SME Entrepreneur Award-2021 among the four best entrepreneurs at the start of the eight-day fair to be held from 5-12 December.

On behalf of the premier, Industries Minister Nurul Majid Mahmud Humayun handed over crests, certificates and cheques to the four entrepreneurs.

The awardees are Humaira Mustafa (Sohani's Interior), Nazmul Islam (Taji Agro Industries Limited), Mohammad Shoyeb Hasan (Hifs Agro Food Industry) and Mohammad Azizul Huq (Nextdecade Technology Pvt Ltd).

The fair will remain open from 10am to 8pm everyday till December 12. No entrance fee has been instituted this year.

Sources at the SME Foundation said 116 fashion design companies, 37 leather products companies, 36 foods and agro processing companies, 33 handicraft companies, 29 jute products companies, 17 light engineering companies, four IT sector companies, six electrical and electronics companies, four herbal and organic products companies, four jewelry products companies and three plastic products companies are participating in the fair.

This year, 311 organisations are participating in the fair with 325 stalls, 60% of which belong to women entrepreneurs.

SME Foundation Chairman Dr Md Masudur Rahman said, "Entrepreneurs cannot participate in the fair with foreign products. Ten banks and financial institutions offering SME loans are also participating in the fair and will provide necessary information to the entrepreneurs for getting SME loans."

Apart from entrepreneurs, Bangladesh Small and Cottage Industries Corporation, Bangladesh Industrial Technical Assistance Center, Bangladesh Standards and Testing Institution, Jute Diversification Promotion Centre, Bangladesh Council of Scientific and Industrial Research, Dhaka Stock Exchange, Brac Bank, Eastern Bank, Bank Asia, Janata Bank, Dhaka Bank, and Mutual Trust Bank have also joined the fair, said Masudur.

Sapna Rani Shen, owner of Rangpur craft (Satorangi), told The Business Standard, ''Since the Covid-19, demand for my product has increased through online marketing. Now, I hope that it will be higher at the SME fair.''

Kaniz Fatema, a leather products' manufacturer, retailer and exporter, told TBS, "The fair is very important for the entrepreneurs as the amount of goods they sell at this fair is around half of their annual sales."

Kaniz expressed hope that her stocks were enough and that customers would buy her leather goods in the fair, making up for the unsold products during Covid-19.

Speaking to TBS, Khurshed Alam Mridra, a honey, black cumin oil and sesame oil seller from Mymensingh, said, "Even though the weather was bad on the first day, the sales are going well. I hope it will increase by several times in the remaining days."

SME Foundation Managing Director Dr Md Mafizur Rahman told TBS, "In the last eight national SME product fairs, 1,561 entrepreneurs sold products worth around Tk21.88 crore and received orders worth around Tk36.5 crore.

"Besides, at 86 divisional and district level SME product fairs, 3,162 SME entrepreneurs sold products worth Tk23.33 crore and received orders worth Tk21.14 crores. We hope that the trend will continue in this year's fair." 

According to the Bangladesh Bank, there are about 60 lakh SME entrepreneurs in the country. Around 90% of the total industrial units of the country belong to the SME sector.

The SME sector's contribution to the country's GDP is 25%. Overall, its contribution in the industrial sector is 32%, according to the SME Foundation.

State Minister for Industries Kamal Ahmed Mojumder, Secretary of the Ministry Zakia Sultana and Federation of Bangladesh Chambers of Commerce & Industries (FBCCI) President Md Jashim Uddin also spoke at the inauguration ceremony.