Private sector productivity crucial for the country’s prosperity – Chakwera


President Lazarus Chakwera says increasing private sector productivity is the only way to make Malawi a middle-income economy that empowers Malawians to be self-reliant.

Speaking in Lilongwe on Tuesday at the Malawi Investment Summit 2023, Chakwera said the private sector is the primary domain where a healthy and strong nation creates jobs, wealth and achieves food security.

“My administration has been pushing to see an uptick in productivity in three primary and most promising sectors of agriculture, tourism and mining, which is what has been referred to as our ATM Strategy,” Chakwera said.

He said, in order to boost productivity in these three sectors, his government has been reviewing the policy, legislative and administrative framework to make the changes necessary for creating an enabling environment for boosting production in the sectors.

The President, however, lamented obstacles such as governance dysfunctions in the public institutions and external shocks as those frustrating his government’s efforts to create the conditions for a producing, exporting, and forex generating economy.

Chakwera said to show that his government is serious for Malawi being open for business, he is sending his Ministers of Agriculture, Tourism and Mining to South Africa this week to address potential investors at the Malawi Investment Forum that the Embassy of Malawi in South Africa is hosting.

“Our number one priority is the economy and that necessarily means empowering and enabling the private sector, with the goal of making Malawi the best partner for business and investment,” he said.

He, therefore, thanked the Economist Impact and all the sponsors of the event for seeing that Malawi is the best place for the investment summit.

Reported by Sellah Singini

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