Industralization essential for development

The Ministry of Industry, Trade and Tourism Acting Principal Secretary Dr Joseph Mkandawire said industrial development and diversification is essential to enable African countries including Malawi to trade amongst themselves and to benefit from signed free trade agreements.

He made the remarks when he officially opened the 3rd Lilongwe Trade Fair on 26 July 2018 in Lilongwe.

He said his ministry has developed the National Industrial Policy (NIP) which has looked at industrialization enablers in the country and proposed the type of interventions Malawi requires to put in place in the short, medium and long term.

He said: “These industrialization enablers include access to finance for Micro, Small and Medium Enterprise Development (MSMEs), enhancing the use of railway transport for exports for products, and capacitating institutions vital to industrialization such as the Ministry of Industry, Trade and Tourism; the Malawi Investment and Trade Centre (MITC); Small and Medium Enterprise Development Institute (SMEDI); and the Malawi Bureau of Standards (MBS), amongst other initiatives,”

In his words, MCCCI’s Councillor, Andrew Chinguwo said The Lilongwe Trade Fair had adopted the theme for the Malawi International Trade Fair: Industralisation: Basis for Trade Competitiveness, to underscore the importance of industrialisation for the country’s inclusive and resilient growth adding that Industrialisation must be a key priority for Malawi

Said Chinguwo: “The bottom line is that we need to produce more and we need to produce better. Most of all, we need to add value to our resources and raw materials, and turn them into processed products. That is the end goal! We must not slow down.”

Chignuwo said, no country or region in the world has achieved prosperity and a decent standard of living for its citizens without a robust industrial sector.