Prime Minister Sheikh Hasina placed a five-point proposal for further development of the country’s potential small and medium enterprise (SME) sector as she inaugurated the ‘8th National SME Product Fair 2020’ in the capital on Wednesday (Mar 4).

“Many of our SME products are world standard and they’re also associated with our cultural heritage. So, we’ll have to undertake some measures for developing the SME sector further,” she told the opening ceremony of the nine-day fair as the chief guest at the Krishibid Institution, Bangladesh (KIB) Auditorium at Farmgate.

In her first proposal, the premier said the entrepreneurs will have to concentrate more on producing a hundred percent export-oriented high-end demanding goods side by side our heritage products.

Sheikh Hasina said secondly, the entrepreneurs will have to manufacture complementary goods to the heavy industries by the SMEs and thirdly, flourish the Blue Economy through SMEs.

Fourthly, they (entrepreneurs) will have to focus more on turning Bangladesh into a partner of ‘Global Value Chain’ using a low cost of production in combination with modern technology, she said.

Fifthly, the country’s scientists and researchers will have to give more attention towards coordination/hybridisation of three innovative sectors —digital, biological and physical — so that Bangladesh can keep pace with fourth industrial revolution (4IR), she added.

Industries Minister Nurul Majid Mahmud Humayun presided over the function, while Chairman of the Parliamentary Standing Committee on the Industries Ministry Amir Hossain Amu was present as the special guest. Industries Secretary Md Abdul Halim and SME Foundation Managing Director Md. Safiqul Islam also spoke at the function and State Minister for Industries Kamal Ahmed Mojumder was present on the dais.

SME Foundation is organising the fair at the Bangabandhu International Conference Centre (BICC) in the capital.