In response, the government is exploring incentives for US businesses to invest in the country's cold storage infrastructure. During the Cold Chain Investment Conference 2024 in Dhaka, organized by the Bangladesh Investment Development Authority and the Bangladesh Trade Facilitation Project under the US Department of Agriculture, the prime minister's adviser on private industry and investment, Salman F. Rahman, highlighted the government's efforts to subsidize interest on loans for sector businesses amidst rising lending rates. He noted the US Embassy's view that "investment in Bangladesh's cold chain can be a special opportunity for American businesses." William Fellows, executive managing director at LixCap, underscored the potential benefits of cold chain logistics investment, estimating a $2.4 billion annual loss from the destruction of 20-44 percent of the country's fruit, crop, and vegetable output. He suggested that improvements in cold chain logistics could significantly reduce these losses, potentially eliminating the need for importing staples like onions and potatoes.

Source: bd News24 February 29, 2024 13:16 UTC