Micro Industries Development Assistance and Services (MIDAS) aims to be the frontline business development service provider in Bangladesh, says its Managing Director Dr ASM Mashi-ur-Rahman.
Its mission is to help generate jobs to reduce poverty and promote socio-economic development.
MIDAS, creating economic opportunities for many individuals and organisations by providing financial and technical assistance, is celebrating 35 years of its presence in Bangladesh on Saturday.
It has emerged one of the leading promotional organisations in the MSME sector of Bangladesh.
MIDAS Financing Ltd (MFL) started operation in full swing with effect from January 2000 and MIDAS ceased to perform its financing function from the same date.
"MIDAS is committed to development of a sound and rapidly growing micro, small and medium enterprise sector through Consultancy and Technology Transfer services in Bangladesh," Dr Mashi-ur said.
Accordingly, it underpins several issues, including entrepreneurs and Micro, Small and Medium Enterprises (MSMEs) across the world.
MIDAS, established with USAID grant, has been playing a vital role in development of entrepreneurship, especially focusing on women, since 1982.
"MSMEs in Bangladesh have emerged as a highly-vibrant and dynamic sector of the country's economy and we take pride in announcing that MIDAS is one of the key players in this sector," Dr Mashi-ur said.
About the contribution of organisations like MIDAS, he said, "Despite achieving economic growth consistently, income inequality at the individual level is causing skewness in consumption in the country.
The issues need to be addressed as Bangladesh continues to expand its presence in global trade it faces serious challenges and risks along with opportunities, he added.
In such a scenario, it is imperative that organisations such as MIDAS take initiatives to remove the bottlenecks so as to empower the country to achieve sustainable development, leaving no one behind.
About the history of the organisation, Dr Mashi-ur said, USAID was instrumental in the birth of MIDAS in 1982 and it supported MIDAS for about 11 years.
"However, MIDAS is continuing to render non-financial business development services. MIDAS is now a leading organisation in the private sector, providing high-quality services to MSMEs and playing a vibrant role in the field of consulting and development in Bangladesh," he added.