Staff Reporter :
Rizwan Rahman, President of the Dhaka Chamber of Commerce & Industry (DCCI) on Saturday urged the government to establish a SME bond and specialized bank to facilitate the Cottage, Micro, Small and Medium Entrepreneurs (CMSMEs) in the country.
“Establish a SME Bond or specialized SME Bank to safeguard CMSMEs in the country prior to separate cottage, micro and small industries from medium and large industry sector in the definition as access to finance is one of the largest challenges for SMEs,” he proposed while speaking at a Meet the Press at its conference room in the city.
For the greater development of SME, he proposed SME Development Act instead of SME Policy as act will give the sector a legal framework. Replying to a question, Rizwan said that the government has given another Tk 2,700 crore as incentive out of which 54.13 per cent has been disbursed and it will get a better pace as the process will be more flexible and ease soon.
Referring the DCCI has already signed MoUs with 12 renowned universities for academia collaboration, he said, the effective industry-academia collaboration will help industries getting skilled executives and academia will enhance skill development to face 4IR.
About the Foreign Direct Investment (FDI), the DCCI president said, “We don’t want to see a robust FDI improvement overnight in the Covid-19 pandemic situation but the government may facilitate home-grown local investors by giving them same incentives that a foreign investor enjoy.”
Regulatory reforms and reforms in policy framework will help Bangladesh to improve its position in various global competitive indexes, he added.
Considering the present economic and investment scenario, he urged the government to slash corporate tax rate.
He further said, “Bangladesh is reviving its economy while Europe is still in shambles, so we may look into the East and ASIAN region for greater tie-up and we have to concentrate product and market diversification at this moment as well.”
Some of the facilities that Bangladesh is enjoying now because of being LDC listed country will no longer be available after graduation from this status.
“But it is inevitable, today or tomorrow we will be out of the LDC, but for that we have to be prepared,” he said.
However, the government may ask for extension for few facilities after the graduation, he opined.
At the same time we have to improve in the global competitiveness indexes because after the graduation we will be competitive with other countries, he said.
Commemorating the birth centenary of Bangabandhu Sheikh Mujibur Rahman and golden jubilee of Bangladesh and to attract FDI, the DCCI has a plan to hold Investment Summit in the Asian region this year, he informed.
DCCI Senior Vice President NKA Mobin, Vice President Monowar Hossain, Directors Md Shahid Hossain, Golam Zilani, Hossain A Sikder and Nasiruddin A Ferdous, among others, were present.
Rizwan Rahman, President of the Dhaka Chamber of Commerce & Industry (DCCI) on Saturday urged the government to establish a SME bond and specialized bank to facilitate the Cottage, Micro, Small and Medium Entrepreneurs (CMSMEs) in the country.
“Establish a SME Bond or specialized SME Bank to safeguard CMSMEs in the country prior to separate cottage, micro and small industries from medium and large industry sector in the definition as access to finance is one of the largest challenges for SMEs,” he proposed while speaking at a Meet the Press at its conference room in the city.
For the greater development of SME, he proposed SME Development Act instead of SME Policy as act will give the sector a legal framework. Replying to a question, Rizwan said that the government has given another Tk 2,700 crore as incentive out of which 54.13 per cent has been disbursed and it will get a better pace as the process will be more flexible and ease soon.
Referring the DCCI has already signed MoUs with 12 renowned universities for academia collaboration, he said, the effective industry-academia collaboration will help industries getting skilled executives and academia will enhance skill development to face 4IR.
About the Foreign Direct Investment (FDI), the DCCI president said, “We don’t want to see a robust FDI improvement overnight in the Covid-19 pandemic situation but the government may facilitate home-grown local investors by giving them same incentives that a foreign investor enjoy.”
Regulatory reforms and reforms in policy framework will help Bangladesh to improve its position in various global competitive indexes, he added.
Considering the present economic and investment scenario, he urged the government to slash corporate tax rate.
He further said, “Bangladesh is reviving its economy while Europe is still in shambles, so we may look into the East and ASIAN region for greater tie-up and we have to concentrate product and market diversification at this moment as well.”
Some of the facilities that Bangladesh is enjoying now because of being LDC listed country will no longer be available after graduation from this status.
“But it is inevitable, today or tomorrow we will be out of the LDC, but for that we have to be prepared,” he said.
However, the government may ask for extension for few facilities after the graduation, he opined.
At the same time we have to improve in the global competitiveness indexes because after the graduation we will be competitive with other countries, he said.
Commemorating the birth centenary of Bangabandhu Sheikh Mujibur Rahman and golden jubilee of Bangladesh and to attract FDI, the DCCI has a plan to hold Investment Summit in the Asian region this year, he informed.
DCCI Senior Vice President NKA Mobin, Vice President Monowar Hossain, Directors Md Shahid Hossain, Golam Zilani, Hossain A Sikder and Nasiruddin A Ferdous, among others, were present.
