SME Foundation promoting entrepreneurs’ products

The SME Foundation has launched an online promotion campaign in a bid to help small and medium-sized enterprises (SME) entrepreneurs reach more customers.

According to a press release, the foundation will run their promotion in various government and private institutes, along with foreign embassies operating in the country. They have created 25 taglines for this purpose.

Industries Minister Nurul Majid Mahumd Humayun inaugurated the event at a virtual ceremony.

Speaking as the chief guest, Humayun said SME entrepreneurs are making quality products.

He said, "An initiative has been taken to include a quota system in the public procurement act for the purchase of a certain amount of goods or services from SME entrepreneurs through the Industries Ministry. Once implemented, this initiative will benefit the entrepreneurs."

The Industries minister further said initiatives have also been taken to strengthen the connection between SME entrepreneurs and customers, in order to extend conveniences.

The Industries ministry is working with the commerce ministry to bring SME entrepreneurs' products into the market.

Attending the event as a special guest, Commerce Minister Tipu Munshi urged everyone to increase the use of domestic products.

"There is a market of nearly 17 crore people inside Bangladesh. We buy and use products made by SME industry entrepreneurs. And by doing so, we can help keep the wheels of the economy running during this critical time in our country's history," he said.

The commerce minister said, "The quality of SME entrepreneurs' products is very good and many products are of international standard, which are being exported abroad. Our Prime Minister prioritises domestic products."

"At the outset of the Covid-19 pandemic, the government announced an incentive package of TK20,000 crore for SME entrepreneurs. I hope that the banks will work sincerely to extend this loan to small and medium enterprises," he added.

Dr Md Masudur Rahman, chairperson of SME Foundation, presided over the event.

He said, "Domestic fashion designers produce products worth around Tk20,000 crore a year. Therefore, if quotas are set for the purchase of products from SME entrepreneurs in government procurement, the use of domestic products will increase."

Azharul Haque, managing director, Sada Kalor Fashion House, gave a presentation on how SME entrepreneurs can better promote their products. He said the government should be proactive in this regard. Country banding needs to be done like Japan, China.

Safiqul Islam, managing director, SME Foundation; and Israt Jahan Chowdhury, proprietor of Tulika also spoke on the occasion among others.