Dhaka, June 28 -- Commerce Minister Khandaker Abdul Muktadir on Sunday announced that the government has taken various initiatives to expand the Micro, Small, and Medium Enterprises (MSME) sector including plans to establish new industrial parks alongside existing BSCIC industrial estates.

The minister made the announcement while addressing an event organised at the Bangladesh Investment Development Authority (BIDA) auditorium in the capital to mark the International Day of Micro, Small, and Medium-sized Enterprises.

Highlighting the sector's economic significance, Muktadir said MSMEs currently contribute 34 percent to the national economy.

"As the lifeline of our economy, the more dynamic this sector becomes, the higher our GDP growth...