United News of Bangladesh

Investing a portion of remittance inflows into small and medium enterprises (SMEs) will create new jobs, strengthen the local economy, and open up new opportunities for future generations, Chief of Mission of the International Organization for Migration (IOM) Bangladesh Dr Laura Tomm Bonde said on Saturday. She made the remarks while addressing as the chief guest at a mock parliamentary debate organised at the Bangladesh Film Development Corporation (FDC) in the capital to mark International Day of Family Remittance 2026. The event was jointly organised by Debate for Democracy and IOM Bangladesh, with support from the European Union. "When migration is safe, regular, and orderly, its benefits are not limited to an individual migrant," Laura Tomm Bonde said. "It contributes to the overall development of families, society, and the nation as a whole. Every remittance reflects the hard work, resilience, and sense of responsibility of Bangladeshi expatriates." She emphasised that directing a portion of remittances into the SME sector will boost local economic momentum and create sustainable opportunities for future generations, adding that IOM is working closely with the government to improve migration management and ensure migrant protection. Chairing the event, Debate for Democracy Chairman Hasan Ahmed Chowdhury Kiron described expatriate workers as the nation's true economic heroes, noting that remittances serve as a key driver of the economy and a major pillar of foreign exchange reserves. He stated that migration is directly linked to the employment of nearly 25 percent of Bangladesh's workforce, adding that national poverty rates will have been roughly 10 percent higher without overseas employment opportunities. Kiron stressed the importance of channeling remittances into productive investments – particularly SMEs – rather than using them solely for consumption, to secure the long-term financial stability of migrant families. In the debate competition titled "Investing Remittances in the SME Sector is the Best Strategy for Protecting Migrant Families," Dhaka International University emerged winner by defeating the debating team from the State University of Bangladesh. The debate was judged by Dr SM Morshed, and journalists Daulat Akhtar Mala, Mainul Alam, Faruk Mehedi, and Ahmed Reza. Trophies, crests, and certificates were distributed among the participating teams at the conclusion of the event.