'Policy reforms needed to attract investment in logistics sector'

Policy reforms need to be ensured by removing the regulatory bottlenecks in order to attract domestic and foreign investment in the logistics sector, said Abul Kasem Khan, former president of the Dhaka Chamber of Commerce and Industry.

And Bangladesh should follow the best practices of India, China, Singapore and Hong Kong to formulate its logistics policy, he said.

He was speaking at a workshop on "Formulating National Logistics Development Policy for Bangladesh: Experience from Global Good Practices", jointly organised by the industries ministry, Business Initiative Leading Development (BUILD), and World Bank Group at the InterContinental Dhaka today.

The workshop was a part of the first public-private interaction forum, termed "Logistics Infrastructure Development Working Committee (LIDWC)", developed by the Prime Minister's Office (PMO) and BUILD in 2020 to overcome the logistics barrier for economic development.

On request from the PMO, LIDWC, under the industries ministry, prepared a draft "National Logistics Development Policy Framework" this year.

Khan, who is also co-chair of LIDWC, also said that the "National Forum for Formulating National Logistics Industry Development Policy" would be formed where LIDWC will provide research assistance with the support of the World Bank Group.