The 11th edition of the National SME Product Fair-2024 is set to kick off this coming Sunday showcasing products crafted by local small and medium enterprises (SMEs). Industries Minister Nurul Majid Mahmud Humayun made the announcement at a press conference held by the SME Foundation in the capital on Wednesday.
Prime Minister Sheikh Hasina MP will inaugurate the fair on May 19 at the prestigious "Hall of Fame" of the Bangabandhu International Conference Centre, as stated by the industry minister.
The 11th National SME Product Fair-2024, a joint effort by the SME Foundation and the Industries Ministry, will run from May 19 to May 25.
The SME Foundation reports the participation of over 300 SME entrepreneurs from 12 key sectors, with women constituting 60% of the participants. These sectors encompass light engineering, electrical & electronics, plastics, ICT, leather, jute, food and agro-processing, herbal/organic, craft, fashion designing, jewellery, and more.
In addition to the entrepreneurs, the fair will host 30 banks, 15 public-private organizations, 5 university business clubs, and approximately 50 other entrepreneurial service providers.
Highlighting sector-specific participation, the industry minister noted the engagement of 75 entrepreneurs from the readymade garment sector, along with significant representations from jute, handicrafts, leather, agricultural processing, and light engineering sectors.
Under the “National Industrial Policy 2022”, the minister emphasized sectors like agriculture and food processing, agricultural machinery, ICT, leather and leather products, light engineering, jute and jute products, plastics, handicrafts, and crafts.
He further highlighted the opportunity provided to domestic manufacturers and entrepreneurs of service micro, small, and medium industries to showcase and sell their products at the fair, affirming that no foreign or imported products would be permissible for display or sale.
The fair will welcome visitors daily from 10:00am to 9:00pm throughout its duration from May 19 to May 25, 2024.
There will also be a secretariat of the SME Foundation, a media center, a blood donation center by Sandhani, a meeting booth and stalls of various government organizations.
Moreover, about 25 banks and financial institutions, that disburse SME loans, will participate in the fair, said Humayun.
“Entrepreneurs will get an opportunity to directly discuss and consult with bankers along with clarifying the necessary information on SME loans. In this case, if the bank-entrepreneur agrees, the entrepreneur can apply for the loan at the fair and, if possible, get an idea about obtaining the loan,” he added.
He also said that the fair will provide an idea about the foundation’s various services for SME entrepreneurs and register interested entrepreneurs to participate in upcoming training and other programs.
Business Incubation Centers operated in Dhaka and Chittagong under the supervision of SME Foundation will provide initial registration of startups/new entrepreneurs interested in using the incubation centers along with imparting ideas about the centers, he added.
There will be awards for the best stalls in the fair for conventional and versatile products along with stall decoration, he added.
There will also be stalls for platinum, gold, silver and other co-sponsors.
Moreover, six seminars on competition law, smart financing, women entrepreneurs and women empowerment, entrepreneurial ecosystem and Smart Bangladesh, green SMEs and sustainable development, Smart Bangladesh and Digital preparedness for the entrepreneurs will be organized during the 7-day fair.
On this occasion, the prime minister will hand over the crest and certificate to 7 micro, small, medium and start-up entrepreneurs who have won the National SME Entrepreneurship Award 2023.
Regarding the objectives and purposes of the fair, Nurul Majid Mahmud Humayun said that the objective of the fair is to promote, disseminate, sell and the market expansion of products produced by small and medium scale entrepreneurs at local and international levels.
Moreover, it will also assist in developing relationships, communication and bridging of SME entrepreneurs with consumers.
It will take creative opinions and suggestions from various quarters, he added.
At the past 10 fairs, about 2330 SME entrepreneurs sold products worth about Tk43.62 crore and received orders of about Tk72.85 crore.
At the press conference, Zakia Sultana, secretary of Industries Ministry, Professor Md Masudur Rahman, chairperson of the SME Foundation, Salahuddin Mahmud, managing director of the SME Foundation, and Rashedul Karim Munna, convenor of working committee on fair were also present.