Efficient logistics is not a mere operational necessity. Rather, it is a strategic driver of development. Logistics can significantly accelerate the progress of Bangladesh, said a top official of DHL Express Bangladesh.

"When we think of logistics, we often picture large-scale elements like roads, railways, rivers, and ports, which are essentially infrastructure. This focus on infrastructure sometimes diverts our attention from the silent killer — inefficiency," said DHL Express Bangladesh Managing Director Md Miarul Haque at the awards ceremony of the 22nd edition of the Bangladesh Business Awards earlier this month.

He said infrastructure is undoubtedly crucial for logistics, but concentrating solely on building and expanding it without addressing existing inefficiencies can lead to even more inefficiency.

"Therefore, it is essential to prioritise digitalisation and simplification, which can provide significant improvements much faster and ensure we are prepared for even higher efficiency when our infrastructure is enhanced."

Haque cited the World Bank's Logistics Performance Index (LPI) 2023 and said Bangladesh's ranking improved to 88th out of 139 countries, up from 100th in 2018.

"While this is a positive development, we still lag behind most of our major competitors," he said, adding that Bangladesh was trailing Thailand, India, Vietnam, and Indonesia in the logistics ranking.

"Logistics inefficiencies can have a profound and multifaceted impact on trade, affecting everything from costs to competitiveness. Addressing these inefficiencies is crucial for enhancing trade performance and economic growth."

He said the World Bank highlighted that efficiency in the logistics sector in Bangladesh could offer substantial cost savings, ranging from 7 to 35 percent depending on the sub-sector.

"These savings can be a game-changer for our economy, making our goods more competitive in the global market, reducing time to market, and attracting foreign investment."

"Bangladesh as a country and its business community are at a pivotal juncture where we must reset our direction for the future," Haque said.

He added that the momentum generated by Bangladesh's economic engine would be a key success factor in the journey toward prosperity.

"And your role has always been crucial," he told entrepreneurs and top executives at the event.