Inadequate policy support is hampering the development of the MSMEs here and lack of coordinated vision undermines linkages between MSMEs and the rest of the economy, they said.

Economists, social scientists, researchers, entrepreneurs, bankers and policy makers attended the roundtable on 'Micro, Small and Medium Enterprises Development in Bangladesh: Situation, Problems, and Suggested Solutions' jointly organised by Human Development Research Centre (HDRC), Katalyst and The Daily Star at the Cirdap auditorium in Dhaka.

M Taher Uddin, senior consultant, Saiful Hoque, director, international programme development of HDRC, and Abul Barkat, professor of economics at Dhaka University, jointly prepared the keynote paper.

Speaking at the roundtable, Aly Zaker, chief executive officer and managing director of Asiatic Marketing Company Ltd, said a small enterprise can become a giant company if it receives necessary social and financial support.

Mahfuz Anam, editor of The Daily Star, said running an enterprise is not only an economic challenge, but also an intellectual one.

"It is clearly an intellectual and creative work to add value to an investment," he observed.

Presenting the keynote paper, M Taher Uddin said inaccessibility to financial resources due to rigidity in banking system and lack of quality materials and appropriate production facilities are impeding the growth of MSMEs.

Access to market is the most crucial development impediment for the MSMEs. Lack of knowledge about marketing technique, market segmentation and access to market in the face of globalisation are real obstacles to the sustainable growth of MSMEs, the keynote paper added.

The country's MSMEs could not avail various incentive packages due to complicated administrative and bureaucratic processes, it mentioned.

Taking fiscal measures, increasing subsidy, providing easy bank loan facility, and having start-up fund are essential prerequisites for the growth of the MSMEs, it added.

Reza Ali, chief executive officer and managing director of Bitopi Advertising, emphasised establishing an information cell that will help entrepreneurs get necessary business information.

Nasreen Awal Mintoo, president of the Women Entrepreneurs Association of Bangladesh, said the country's overall growth cannot be reached at a satisfactory level ignoring the contribution of the women and without ensuring their participation in the MSMEs.

Abul Barkat moderated the roundtable while Parvez Md Asheque, business consultant, AFM Abdul Moyeen, deputy manager of Katalyst, Asif Iqbal, marketing manager of Unilever, Fahim Masroor, chief executive officer of BD Jobs, and Noor Mohal Begum, general manager of Bangladesh Small and Cottage Industries Corporation, also spoke at the roundtable.