The government plans to implement a project involving Tk 10.0 billion for the development of small and cottage industries.
Industries Minister Amir Hossain Amu came up with the statement on Saturday while inaugurating a 10-day 'Baishakhi Mela' on the Bangla Academy premises..
"Bangladesh Small and Cottage Industries Corporation (BSCIC) will implement the project which will change the present scenario of the sector," the minister said.
"There're around 125,000 small and 800,000 cottage industries in the country which have created employment opportunities for 3.8 million people," Amu said.
"Alongside, some 1 million SME entrepreneurs have been sprouted across the country," he said.
The minister also said the SME sector contributes 23 per cent to the GDP and accounts for 80 per cent employment among all industries, reports UNB.
BSCIC and Bangla Academy jointly organised the fair marking the Pahela Baishakh, the first day of Bangla calendar.
Acting Cultural Affairs Secretary Nasir Uddin Ahmed, Additional Secretary to the Industries Ministry Enamul Haque and Bangla Academy Director General Shamsuzzaman Khan were also present at the opening ceremony with BSCIC Chairman Mustak Hassan M Iftekhar in the chair.
Amu said this fair will work to brand and create new market for the small and cottage industries at grassroots level.
"Besides, it will work as a platform for the entrepreneurs to establish a linkage among them to develop the quality of their products," the minister said.
Some 232 stalls were set up at the fair for the display of products from different areas of Bangladesh.
The fair will continue from 10am to 9pm every day till April 23.
A total of nine awards were distributed among 10 winners who contributed to the development of small and cottage industries.