Govt to formulate logistics industry development policy

The government has taken initiatives to formulate logistic industry development policy, Industry Minister Nurul Majid Mahmud Humayun on Wednesday said.

Some good examples from other countries will be taken into consideration while formulating the policy, the mister said.

He was addressing the opening ceremony of a workshop titled "Formulating National Logistics Industries Development Policy for Bangladesh: Experiences from Global Good Practices" at Hotel Inter-Continental in Dhaka.

The two-day workshop was organized in collaboration with the World Bank Group and Business Initiative Leading Development (BUILD)--an initiative of the Ministry of Industries.

The government has taken all possible measures for the infrastructure development in the country, he said adding: “Considering the logistics sector as an important component of infrastructural development, the ministry has included it in the National Industrial Policy-2022 as a priority sector for export diversification. At the same time, 22 sub-sectors of logistics have also been included in the National Industrial Policy.”

He also said that Bangladesh is moving faster…thanks to the digital revolution and development initiatives in the infrastructure sector. “Private sector contribution has also helped the sector. Bangladesh will soon transition to a developing country. As a result, it is necessary to reduce costs in the logistics sector in order to survive in the competition.”

Bangladesh has not been able to fully utilize the benefits of the waterway-centric transportation system, said the minister. “The situation is the same in the railway sector.

BUILD Chairman Nihad Kabir, State Minister for Industries Kamal Ahmed Majumder, senior secretary of Prime Minister's Office Md Tofazzel Hossain Miah and FBCCI President Md Jasim Uddin took part in the workshop.