News Flash
DHAKA, April 9, 2026 (BSS) - Industries Minister Khandaker Abdul Muktadir today emphasized that there is no alternative to making the Bangladesh economy more competitive and resilient as the country prepares to graduate from Least Developed Country (LDC) status.
"In the current global context, taking effective and rapid action is no longer optional," he said while speaking as the chief guest at a function at the Hotel InterContinental in the city, said a press release.
The event marked the signing of agreements between the SME Foundation and 11 banks and four non-bank financial institutions (NBFIs) to distribute loans under a credit wholesaling program.
Muktadir highlighted several critical challenges facing the industrial sector, including rising energy costs and global economic uncertainties.
He specifically pointed out that logistics costs in Bangladesh account for approximately 16 percent of the GDP, significantly higher than the global benchmark of 10 percent.
He warned that failing to reduce this gap would make it difficult to compete in the international market.
To maintain steady GDP growth and provide employment for the 20 to 22 lakh people entering the labour market annually, he asserted that enhancing internal capacity and skill development is essential.
The SME Foundation signed agreements today to facilitate over Tk 400 crore in new loans for micro, small, and medium entrepreneurs.
Industries Secretary and SME Foundation Chairperson Md. Obaidur Rahman, who presided over the event, stated that the ministry is working to empower entrepreneurs to contribute more significantly to the national GDP.
The 15 participating financial institutions include BRAC Bank, City Bank, Bank Asia, United Commercial Bank, Prime Bank, Bengal Commercial Bank, Bangladesh Krishi Bank, Bangladesh Development Bank, Karmasangsthan Bank, NCC Bank, Trust Bank, IPDC Finance, IDLC Finance, LankaBangla Finance, and United Finance.
The ceremony was also attended by Bangladesh Bank Deputy Governor Nurun Nahar, Women Entrepreneur Association of Bangladesh President Nasreen Fatema Awal, and SME Foundation Managing Director Anwar Hossain Chowdhury.
