'Foreign Direct Investment in Logistics Sector' hosted by NCCI

The Nordic Chamber of Commerce and Industry (NCCI) in Bangladesh, organised a daylong event focused on "Foreign Direct Investment in Logistics Sector" co-hosted with the Embassy of Denmark, the Royal Norwegian Embassy and the Embassy of Sweden along with the Delegation of the European Union to Bangladesh.

The program emphasised on the broad range of opportunities in Bangladesh, based on the solid economic progress the country has made since its independence, reads a press release.

While highlighting Bangladesh as an attractive destination for investment, speakers at the event discussed on the need for development of overall logistics sector keeping in mind the projected increase of trade volume for Bangladesh in the coming decades.

Business leaders, foreign dignitaries, government regulatory bodies, policy makers and advocacy coalitions also joined in the event.

NCCI President, Tahrin Aman, in his welcome remark highlighted that the LDC graduation will bring about a new set of economic challenges and the support of Nordic countries will be instrumental in continuing on the upward trend, adds the statement.

Speaking at the event, he said, "Logistics is one of the tools that play an important role in the change and improvement of economic indicators. It provides significant macro contributions to national economy by creating employment, creating national income and foreign investment influx".

He also added that NCCI organised this event, recognising the bold effort of the government to invest in ports and terminals with modern facilities and best technologies. He hoped that such events can bring together various stakeholders, including government officials and foreign investors to create synergy and growth for the Bangladesh economy.

He further added, "A rise in the purchasing power of the  public in Bangladesh has made it an attractive destination for foreign goods and services. As Bangladesh steadily moves away from Aid to Trade, it is imperative to welcome more Nordic and European investments and sustainable solutions."

As chief guest in the opening session, Tipu Munshi, minister for Commerce, said, "While we are excited about the performance of the economy over the past decades, it is not a time for us to rest. As we graduate from the LDC list, we are working relentlessly to address new challenges. The logistics sector is very important for the import and export of the country. The government is providing all necessary assistance to increase investment and trade in the country and is working to create a business-friendly and sustainable environment. Additionally, the government is working on upgradation of several ports".

He further added, "At a time of massive global disruption of supply chains, at a time when select countries are reverting to protectionist measures, further exacerbating these disruptions, Bangladesh remains committed to being an integral part of the global trading and manufacturing community. We welcome international investment to further enhance our competitive position."

Md Toffazal Hossain Miah, senior secretary, Prime Minister's Office, in his video message applauded the timely organisation of such an event and highlighted the development of the "National Logistics Policy" by the government, which will help to create an enabling situation for foreign investment. He further expressed his hope that investment will bring much needed expertise to train local resources and integrate them with the global standard.  Furthermore, he reiterated the government's commitment to increase connectivity through investment in infrastructure projects, which greatly benefit the people of the country. 

Speaking on behalf of Md Jasim Uddin, president, Federation of Bangladesh Chamber of Commerce and Industry (FBCCI), MA Momen, vice president of FBCCI said the FBCCI is working with all the stakeholders to address issues related to trade and LDC graduation in 2026. 

Md Mahbubur Rahman, chief executive officer of HSBC, in his address "With surging  domestic demand, young population and growing volume of cross border international trade, Bangladesh is now a reckoning force in the area of global supply chain. Efficient physical and service logistics infrastructure, now a natural demand of the time, will remain as key enablers to further augment the competitive advantage of the country. Collaboration and partnership amongst all stakeholders in the logistics sector will be critical to cope up with the growing requirement of the business community. HSBC thanks NCCI for this initiative and will continue to play our part in this area."

The Danish Ambassador added, "Recently Denmark and Bangladesh signed the Sustainable Green Framework Engagement to see how our two countries can develop relation in this regard. She also highlighted that partnerships are the way forward to mobile capital from all sources to build modern, green and sustainable ports and other logistics. She further added, "Denmark  and the Nordics as Bangladesh's strongest partners to share knowledge and technology to  ensure that the modernisation and transition Bangladesh is going through is made as sustainable  and green as possible in order to secure the wellbeing of its people, its companies as well as  our planet. Investing in infrastructure and logistics is essential for Bangladesh's continued development to reach ambitious goals and falling into the middle-income trap."

Speaking at the event, the Norwegian Ambassador Espen Rikter-Svendsen said, "Digitalised trade is faster, simpler, faster and greener. In his closing remarks the Ambassador  highlighted three sectors which must play in harmony for digitization of trade to make  substantive progress; Law (regulators), Technology and Diplomacy. Legislation must change and adapt to a digitized reality. In legislation regulators must look beyond their own borders and adapt laws based on international standards. Technology provides the machinery and the connectivity needed. Diplomats must work for global standards and international cooperation in facilitating trade." 

Swedish Ambassador Alex Berg von Linde marked Nordics as longstanding partners and all time well-wishers of Bangladesh. The ambassador mentioned that the Nordics feel the need to give a boost to business and trade in Bangladesh in terms of logistics infrastructure competitiveness.

"Updated systems of trade, such as digital paperless transactions and upgraded  technologies together with appropriate capacity development could also play vital roles in  ensuring efficient processes in the logistic sector, as well as increase transparency and  competitiveness, not least reducing time and efforts in service delivery and connectivity. For a country like Bangladesh, efficient logistics will surely enhance its competitive edge substantially reducing cost of doing business with Nordic countries," added Ambassador Berg  von Linde.

The head of European Union Delegation to Bangladesh, in this remark added "World-class logistic infrastructure with a smart, sustainable, and competitive logistic network industry is a key prerequisite for Bangladesh to become an export-led economy in line with key policy goals". 

Faiyaz Murshid Kazi, director general, Ministry of Foreign Affairs also spoke at the event. FBCCI Vice President MA Momen also delivered an address in the closing session, while industry leaders, policymakers and sectoral experts participated at the various panel discussions.

The program hosted four panel discussions titled "Capital", "Digitisation in Trade",  "Processes" and "Policies and Roadmap Ahead". Panelists included representatives from the different Port Authorities, private sector companies, research and trade organizations, along with several local and global logistics companies. The day-long event was sponsored by HSBC, Maersk, DSV and H&M Group.