Microenterprises can act as powerful engine of inclusive growth: Speakers

Speakers at a discussion have stressed that microenterprises can act as a powerful engine of inclusive growth in Bangladesh, provided the right policy, social awareness and support systems are put in place.

The discussion titled 'Small Ventures, Big Future: Microenterprise as Engine of Inclusive Growth in Bangladesh' was held at the PKSF Bhaban in the capital on Wednesday.

Addressing the event, economist Dr Selim Jahan said that while microfinance is a component of enterprise development, it should not be confused with the broader scope of microenterprise growth.

"For true development, we must eliminate inequality of opportunities, ensure effective participation of marginalised communities, and foster a mindset that empowers people to dream and realise their aspirations," said Dr Jahan, a former director of the United Nations Development Programme (UNDP).

He emphasised that infrastructural expansion alone does not equate to development. "Enrollment of children in schools is advancement, but ensuring quality education and access to disadvantaged groups is development."

Dr Jahan also called for an enabling environment by curbing violence and crimes, introducing appropriate policies, and ensuring adequate resource allocation.

"We must all raise our voices to keep the government positively engaged in this process."

Presiding over the event, PKSF Chairman Zakir Ahmed Khan highlighted the organisation's achievements, including international recognition of its projects.

He mentioned that one of PKSF's initiatives was recently presented at a World Bank conference in Saudi Arabia, while another was rated among the best-in-class projects supported globally by the International Fund for Agricultural Development (IFAD).

"These recognitions have enhanced the country's image on the world stage."

In his welcome address, PKSF Managing Director Md Fazlul Quader said the organisation is currently financing around 4 million microenterprises across the country.

"We provide a range of services for value chain development and the production and marketing of certified value-added products through financing, technical assistance and technology transfer," he said.

He added that PKSF is preparing to further expand its enterprise development initiatives to help microenterprises significantly contribute to inclusive economic growth.

PKSF Executive Director Dr Mustafa K Mujeri, BIDS Research Director Dr Kazi Iqbal, and MRA Executive Director Mohammad Yakub Hossain, among others, spoke at the event.

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