Government Developing SME Policy 2025: Chairperson of SME Foundation
The five-year SME Policy is set to commence in July this year and conclude in June 2030.
The government is formulating the SME Policy 2025 to enhance the contribution of small and medium enterprises (SMEs) to the economy, SME Foundation Chairperson Md Mushfiqur Rahman stated today.
The government is currently formulating a new SME Policy to replace the 2019 version, which is nearing its expiration, according to SME Foundation Chairperson Md Mushfiqur Rahman. He stated that the five-year SME Policy is slated to take effect in July this year and will remain in force until June 2030.
Speaking at a workshop on the opportunities and challenges of SME Policy 2025, Rahman outlined that the draft policy features 10 strategic objectives aimed at fostering SME development in Bangladesh. The event was jointly organised by the SME Foundation and the Economic Reporters' Forum (ERF) at the ERF office.
SMEs currently contribute approximately 28 percent to Bangladesh's gross domestic product (GDP) and provide about 85 percent of industrial sector employment, Rahman noted. The foundation is actively working to support the sector through initiatives such as hosting national-level SME fairs and assisting entrepreneurs.
He further mentioned that the SME Foundation has identified 177 SME clusters nationwide and is implementing targeted development programs to support cluster-based entrepreneurs. The new policy, Rahman added, aims to increase the SME sector’s contribution to GDP to 35 percent by 2030.
SME Foundation Managing Director Anwar Hossain Chowdhury pointed out that the contribution of cottage, micro, and SMEs to Bangladesh's GDP remains lower than that of neighboring countries. In Pakistan, SMEs contribute 40 percent to the economy, while in Sri Lanka, India, and China, the figures stand at 52 percent, 37 percent, and 60 percent, respectively.
The workshop was chaired by ERF President Doulot Akter Mala.
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