NCCI hosts webinar on “FDI in Logistics Sector”

On 27 November, 2022, the Nordic Chamber of Commerce and Industry (NCCI) in Bangladesh hosted a webinar to celebrate the launch of its white paper "FDI in Logistics Sector." The online event was a follow-up of a daylong event about the same topic which was held in May, 2022. The webinar was graced by Salman F Rahman, MP, Private Industry and Investment Advisor to the Honorable Prime Minister as the chief guest as well as Winnie Estrub Peterson, Ambassador of Denmark who represented the Embassies of Denmark, Norway and Sweden. In addition to that, several business leaders, foreign dignitaries, government stakeholders, regulatory bodies, policymakers, and advocacy coalitions were present.

Bangladesh has experienced immense growth over the past few decades and this will see us graduate from LDC status by 2026. While this is a testament to how far we have come as a nation, this will also see a lot of the perks that we enjoy as a LDC be revoked. It is imperative that we start planning for life after LDC and how we can commence to the next phase of our growth. This is exactly what the white paper seeks to address. The paper has identified logistics as a key sector that will drive the economy and discusses the current gaps and inefficiencies in the sector and how to bridge those gaps to facilitate growth and attract foreign investment.

NCCI President, Tahrin Aman, welcomed everyone to the webinar and gave the guests an insight on the importance of the logistic sector in both micro and macro levels of the economy. He explained how infrastructural development is required for our economy to expand and shed light on the role of the white paper in all of this. The paper seeks to bring revolutionary changes in the sector through concrete recommendation for policy makers and stakeholders at the higher echelon of government. The chief guest, Salman F Rahman recognized the potential of this sector in his speech and stated how the government is already taking steps to enhance the logistics sector and conveyed his appreciation towards the whitepaper and the role it will play to help policy makers shape the future of the country. He concluded that the paper will be a vital tool to formulate policies and their subsequent implementation.

Winnie Estrub Petersen also had some encouraging words about Bangladesh's economy and expressed her appreciation towards its resilience as we continued to expand while the whole world took a hit during the pandemic. She also elaborated on the importance of maintaining the growth and how the logistics sector will play a very crucial role in that. "To maintain and enhance the tempo of growth, the logistics sector needs to be strengthened through global connectivity, effective and efficient services guided through the long-term vision of the government," she added. In her closing notes, she spoke about how it is imperative for Bangladesh to create a business environment that will motivate foreign companies to invest in the logistics sector as that will elevate the country to a more developed arena.

The event was concluded with the launch of the white paper which is available for download from the website of the Nordic Chamber- www.nccib.com/resources.