Dhaka, Bangladesh (BBN) – Small and medium enterprises (SME) will get a special incentive package in the upcoming budget for flourishing the sector, Commerce Minister Muhammad Faruk Khan said in Dhaka on Sunday.
“The industrial policy to be announced this year will also incorporate provisions for further development of the sector,” the minister said at the inaugural ceremony of the four-day 4th Small and Medium Enterprise Fair-2009 in the capital, Dhaka.
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) is organizing the fair. The fair’s objective is to introduce SME products to local and foreign buyers.
The sector has created employment opportunities for many people and the government in the last four months took many steps including reducing interest rate for the sector, the minister said. “The sector has the potential to produce quality products, which can compete with imported goods,” he added.
FBCCI president Annisul Huq terming SME the engine of growth said the finance minister assured the business community that taxes would not be increased instead the tax net would be widened in the next budget.
Chairman of Oman Chamber of Commerce and Industry Khalil Bin Abdullah Bin Mohammed Al-Khonji said SME products of Bangladesh could be popularised in Oman.
A total of 86 companies are displaying a wide range of products from banking service, light engineering, pharmaceuticals to motorcycle in the four-day fair. There are 95 stalls, 13 pavilions and a media center in the fair.
FBCCI has decided to offer ‘FBCCI-Standard Chartered SME Awards 2009’ in seven categories and president Zillur Rahman is expected to be the chief guest in the closing ceremony on May 27 and hand over the SME awards.
BBN/SS/SI/AD-25May09-3:23 am (BST)