Finance Minister AMA Muhith yesterday said there is no power that can impede investment in the country.
Businessmen have now begun to expand their business after a long break of 8-9 months and nobody has power to deter them, he said, addressing the inaugural ceremony of SME Financing Fair 2014 held at a city hotel.
The two-day fair was arranged jointly by Bangladesh Bank and SME Foundation yesterday.
Muhith said: “There is a tendency to thwart every good initiative through waging violence, but no more violence will be able to stop existing investment movement.” Private sector credit growth rose to 12%, which is a very good sign for overall economy, he added.
The finance minister described Small and Medium Entrepreneurs as lifeline of the country’s economy for their more than 70% contribution to overall economy. He called for innovative enterprises in the SME sector.
At the inaugural function, five banks and three non-bank financial institutions were awarded in 10 categories as part of recognition of their contributions to the SME sector.
IDLC Finance won two awards in two categories, women entrepreneurs friendly of the year and SME of the year.
Union Capital was awarded for being small entrepreneurs friendly while Islamic Finance for manufacturing friendly of the year. Of the banks, award for women entrepreneur category went to Mutual Trust Bank, while Bangladesh Krishi Bank (BKB) bagged the rural entrepreneur-friendly award.
Dhaka Bank was awarded in manufacturing friendly category and Islami Bank Bangladesh in small entrepreneur-friendly category.
Mutual Trust Bank won as SME bank of the year while Eastern Bank was awarded in the category of structured SME bank of the year. Muhith handed over the awards to the MDs and CEOs of respective institutions. Bangladesh Bank and SME Foundation jointly arranged the SME award for the first time.
Around 15 lakh employments have been created in the SME sector between 2009 and 2014, said Bangladesh Bank Governor Atiur Rahman.
Attending the programme as special guest, he said a loan of Tk2,62,340 crore had been disbursed among 18.35 lakh SME entrepreneurs over the last four years from 2010 to 2013.
Bangladesh Bank also formed a fund of Tk100 crore along with DCCI through which new entrepreneurs will get loan for the first time, he said.