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This is arguably the real source of competitiveness Japan boasts of. To cite an instance, JICA is committed to a refinancing scheme, namely "Financial Sector Project for the Development of Small and Medium sized Enterprises," providing the Bangladesh Bank with a soft term loan of 5 billion yen, which is equivalent to around crore taka at the current exchange rate. Till date, more than SMEs obtained medium-to-long term investment credit of crore taka from this scheme to enhance their productive capacities, thereby generating employment and bolstering the economy.
Besides, forty-six participatory financial institutions for the scheme are developing their ability of medium-to-long term financing to SMEs. Bangladesh's achievement in the area of economic growth, exports of readymade garment and remittance is remarkable. Still Bangladesh needs to leap onto a growth trajectory of higher than six percent to become a middle-income country by To do so, Bangladesh has to encourage diverse and high value-adding industries.
The light engineering industry was identified as the highest priority sector in "Export Policy " and as the thrust sector in "Industrial Policy The strength of the industry the study pointed out is that the basic production skills have been accumulated to meet requirements of domestic market.kinlessrephe.tk
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Taking pointers from Japan's experience that I mentioned earlier, Bangladesh should foster an enabling environment for both large enterprises and SMEs of the light engineering industry to get competitive. SMEs have to be equipped with advanced technologies and high-level delivering systems which will in turn develop large enterprises further. I believe the SME Foundation organized today's matchmaking event under this context.