Dhaka, Thursday, 21 January 2021

4th industrial revolution taking place in Bangladesh

4th industrial revolution taking place in Bangladesh

Staff Correspondent: Speakers at a conference said that the fourth industrial revolution is changing the whole supply chain management system and the country needs to up its logistics game to catch up with the changes. They were speaking at a conference titled “Logistics in Bangladesh: Challenges and Future Readiness”, which was organized by the Bangladesh Investment Development Authority (BIDA) in association with the Bangladesh Supply Chain Management Institute (BSCMS) at a Dhaka hotel last week.

At different sessions in the conference, panelists discussed the impact of the logistics infrastructure in export competitiveness, current export-import handling capacity of the ports, bottlenecks in air-cargo handling, and overall, how Bangladesh can improve in the Logistics Performance Index (LPI).

Speaking on the occasion, Salman F Rahman, a guest of honor, said Bangladesh has witnessed an “unthinkable” level of growth in the past few years. “But we have to think big, just as Prime Minister Sheikh Hasina has said. We need to achieve double-digit growth for consecutive years to become a developed country by 2041,” he added.

Rahman, private industry and investment adviser of the Prime Minister, said the country needs to up its game in the logistics sector to meet the target. “We have already made big strides in infrastructural growth. But its benefits can’t be enjoyed unless we start properly utilizing our logistics and supply chain network,” he added.

Rahman also said that the fourth industrial revolution is taking place and people now resort to artificial intelligence and the internet of things to control the supply chain network. “We need to adopt and model our own network in line with those latest technologies,” he observed.

Citing Bangladesh’s adaptation in the energy sector in terms of the supply chain, Rahman said since natural gas reserves are depleting, the government has quickly brought LNG to keep the energy supply chain intact. “One of the main drivers of Bangladesh’s growth is the energy sector. We have already ensured its continuity with this step,” he added.

More than 120 logistics experts from both public and privet sectors attended the conference to discuss the existing challenges and future opportunities.

Md Abul Kalam Azad, principal coordinator of the SDG affairs at the Prime Minister’s Office, said the government is open to hearing from all sides and it is trying to weed out the issues hindering the economic development process. “We know that the government has decided to build 100 economic zones and 30 high-tech parks. All of these are progressive steps. You will find that different projects are quickly being implemented in different districts,” he added.

BIDA chairman Kazi M. Aminul Islam, in his inaugural speech, expressed optimism that the conference would be able to address the ever-increasing challenges of logistics management due to the steady growth. He said the conference would give directions as to how these challenges could be met in order to leverage the growth potential in the short, medium and long terms.

Naquib Khan, president of Bangladesh Supply Chain Management Society, said: “Currently, many projects are in the operational phase in our country. We’ve taken many projects for development which are still running. But their implementation should speed up.”

“The economy is moving fast with a total annual business of USD 90 billion. If we want to double it, it won’t take much time, but we must take proper initiatives for that,” he added.