Industries Minister Khandakar Abdul Muktadir today (Sunday) directed officials of the Bangladesh Small and Cottage Industries Corporation (BSCIC) to work towards increasing the Cottage, Micro, Small and Medium Enterprise (CMSME) sector's contribution to the national economy to more than 60 percent, aiming to ensure broader public participation in economic growth.
“The contribution of BSCIC industrial parks is around Tk 65,000 crore annually to the national economy. The current level of production remained below the country's potential,” he said, BSS reports.
The minister made the remarks while speaking as the chief at the inaugural ceremony of the BSCIC Monsoon Fair at the BSCIC Bhaban in the city.
During the event, Muktadir said that although the Tk 65,000 crore contribution appears substantial, it is not satisfactory considering Bangladesh's economic potential.
Referring to countries such as Vietnam and Cambodia, he noted that the CMSME sector accounts for more than 50 to 60 percent of their economies.
Increasing the sector's share in Bangladesh, he said, would help reduce income inequality and ensure wider participation of ordinary people in economic activities.
"We want the share of the CMSME sector in the economy to exceed 60 percent in the coming days," he said.
The minister also instructed district-level officials to identify abandoned or unused industrial plots that have remained idle for years and immediately recover and reallocate them to active entrepreneurs.
He said the performance of district officials would be evaluated primarily on their success in bringing these idle assets back into productive use.
To support future industrial expansion, Muktadir announced that feasibility studies would be conducted to expand industrial parks where available land has been fully utilised and to establish new parks in areas with growing demand.
He also pledged to expedite long-delayed projects and said new initiatives under the "Sabuj Pata" (Green Leaf) project pipeline would be implemented within the current year.
Highlighting regional industrial development, the minister identified agri-business and light engineering as priority sectors and urged officials working in project areas to submit recommendations based on the industrial potential of their respective districts.
He directed officials to submit detailed proposals within one week, which will be discussed in district and industry-specific meetings scheduled for the following week.
The minister said coordinated efforts would be essential to achieving the target of raising the CMSME sector's contribution to over 60 percent and promoting inclusive economic prosperity.