Online Desk: Equipping the small and micro-entrepreneurs with modern technology is one of the prerequisites for establishing a smart economy in Bangladesh.

In addition to this, enhancing the technological capacity of government agencies is also vital for facilitating different services for entrepreneurs to save time and reduce harassment.

This was observed at a seminar styled ‘Technology for Smart CMSMEs’ hosted by the Dhaka Chamber of Commerce and Industry (DCCI) at its head office on Saturday, reads a statement.

ICT Division secretary Md Shamsul Arefin was present at the seminar as the chief guest with DCCI president barrister Md Sameer Sattar in the chair.

Ex-principal secretary to the PM, Md Abul Kalam Azad, was present as special guest, and Bangladesh Small and Cottage Industries Corporation (BSCIC) chairman Md Mahbubor Rahman as the guest of honour.

Mr Arefin accentuated the need for good governance in any office, saying that technology was the best way to ensure good governance.

“The private sector reaps benefits of good governance as they can get easy and hassle-free government services.”

According to Mr Arefin, mobilising adequate data of the SME sector is essential for taking data-driven decision by the government.

He cited the cottage, micro, small and medium enterprises (CMSME) sector as the main player of economic growth in the country.

“If we can strengthen private sector technologically, they will move our economy into the next level.”

BSCIC chairman Mahbubor Rahman said since CMSMEs could not afford a large plot in industrial area, the BSCIC in its new policy allowed small space for them.

The BSCIC has been working to groom people through its training centre as skills development has been a big challenge for entrepreneurs.

Mr Sameer termed SMEs instrumental in the economy of Bangladesh, making substantial contributions to employment, GDP and export earnings.

As a whole, he said, 9.0-million SMEs with 24.5-million workforce in diverse sectors from agriculture, manufacturing, trade and services to export-oriented sectors are recognised as the lifeline for economy.

In order for tech-enabled smart SME development to accelerate the desired development, Mr Sameer suggested subsidies and easy access to finance for SMEs, low-cost refinancing schemes for technology adoption, maximising adoption of fintech, technology transfer, fiscal incentives like tax cut, rebate and rational tariff.

GBL Fintech managing director Md Saifur Rahman made a PowerPoint presentation.

He said limited use of technology, lack of digital engagement, inadequate access to finance and skills development were some challenges for SMEs.

It is evitable that both public and private sector have come forward for the technological advancement of SMEs but it is not adequate, according to Mr Rahman.