President Peter Mutharika has said his government is committed to establishing the National Planning Commission which will generate sustainable and productive economic policies that will not be confined to the short terms of political governments.
Mutharika also said they will be launching Trade and Industrial Policies whose objective is to level the playing field for private sector in doing business.
Speaking during the official opening of the 28th Malawi International Trade Fair at Chichiri Trade Fair Grounds in Blantyre on Tuesday, the Malawi leader further disclosed that his government is reviewing the Investment and Export Incentives Acts.
“At the same time, we are undertaking a Comprehensive Tax review, as well as reviewing Control of Goods Act. We will stop at nothing until we have created a better investment environment. Not long from now, Malawi will be one of the best business destinations,” said Mutharika.
He also said the establishment of Ministerial Committee on Doing Business clearly demonstrates government’s commitment to creating an enabling environment for all players.
“We are thinking business. We have developed the Malawi Growth and Development Strategy to guide us. One of these strategies is the newly-launched Buy Malawi Strategy (BMS). This strategy will empower indigenous businesses and local investors,” said Mutharika.
While admitting that power shortage has been a problem that haunted the country for years, Mutharika said his government has taken aggressive steps to get the problem out of the way.
He also disclosed that they a reviewed Electricity Bill in Parliament and bring in more independent power producers apart from diversifying sources of energy supply.
Malawi Confederation of Chambers of Commerce and Industry (MCCCI) said it was high time Malawians started consuming goods produced in the country by local entrepreneurs.
This, according to MCCCI President Karl Chokotho, could one of solving economic challenges they are facing regarding foreign exchange.
Chokotho therefore described the Buy Malawi Strategy as a timely action, saying it will help develop the capacity of local companies to become competitive and innovative to ably compete with foreign made goods on both domestic and external market.
“The companies will have to be competitive in both pricing and quality of the goods produced. That is why we are emphasizing the two attributes of competitiveness and innovation at this fair,” said Chokotho.