Industries, Commerce, Textiles and Jute Minister Khandakar Abdul Muktadir today said micro, small and medium enterprises (MSMEs) are the lifeblood of Bangladesh's economy, stressing that strengthening the sector is essential for ensuring sustainable economic growth and generating employment.
"MSMEs account for around 90 percent of businesses and more than half of global employment. In Bangladesh, the sector currently contributes about 25 percent to the country's gross domestic product (GDP)," he said.
International MSME Day
The minister made the remarks while speaking at a programme marking the ‘International MSME Day-2026' at the Bangladesh Investment Development Authority (BIDA) conference room in the city. Muktadir said that the United Nations' declaration of June 27 as International MSME Day in 2017 reflected global recognition of the sector's vital contribution to economic development.
Challenges and Government Initiatives
Expressing concern over widening income inequality during the past 15 to 20 years, Muktadir attributed it partly to a slowdown in the emergence of new entrepreneurs compared with the period between 1991 and 2006. While existing industries have expanded, he said, many aspiring entrepreneurs have faced difficulties entering the market due to challenges, including the gas and energy crisis.
"The country's economic activities have become concentrated within a limited number of sectors, contributing to income disparity," he said, adding that the share of MSMEs in GDP is higher in neighbouring countries such as Vietnam, Cambodia, India and Pakistan.
Government Plans
Outlining the government's plans to strengthen the MSME sector, Muktadir said the Bangladesh Small and Cottage Industries Corporation (BSCIC) is implementing new industrial park projects in Pabna, Sylhet, Nilphamari and Syedpur, while feasibility studies are underway to establish additional parks in areas with strong demand for industrial plots.
He said the government is also introducing mentorship programmes to nurture a new generation of entrepreneurs and will encourage less energy-intensive industries to reduce dependence on fuel amid energy constraints. Muktadir expressed optimism that the ongoing gas crisis would be resolved, enabling industries to operate at full production capacity.
Tribute to Entrepreneurs
Paying tribute to entrepreneurs, he described them as the "economic lifeblood" of the country and said Bangladesh's future development would largely depend on their innovation, resilience and contribution to the economy. This year's International MSME Day was observed under the theme, "Human-Centric Entrepreneurship in Enhancing Future Economic Growth for the Next Generation of MSMEs," highlighting the importance of inclusive and sustainable entrepreneurship in the era of artificial intelligence and the Fourth Industrial Revolution.
