RE: MDA11 May 2023 12:02
Lilongwe, Malawi, 10 May 2023 – “Industrialisation is central to the Government agenda of structural transformation of the economy. It is envisaged that industrialisation will transform Malawi from a predominantly consuming and importing country to a predominantly producing and exporting country, thereby reducing the overriding trade deficit” says Ms. Sphiwe Mauwa, Director of Administration, Ministry of Trade and Industry (MoTI).
She was speaking on behalf of the Permanent Secretary (MoIT) Ms. Christina Zakeyo at a validation meeting on the successor National Industrial Policy (NIP), held in collaboration with the Economic Commission for Africa Sub-regional Office for Southern Africa (ECA SRO-SA) in Lilongwe. Ms. Mauva lauded ECA SRO-SA for supporting the comprehensive analysis and review of the newly drafted National Industrial Policy so that it is aligned to the regional industrial policies as well as aligning the Industrial Policy to the Malawi 2063 Agenda.
ECA SRO-SA supported the development of the new NIP that is aligned to the Southern Africa Development Community (SADC) and the Common Market for Eastern and Southern Africa (COMESA) Industrialization Strategies and the, the Malawi 2063 agenda and its first implementation plan (MIP1), the National Export Strategy II and other relevant polices and strategies of the Government of Malawi. The purpose of the validation meeting was to provide an opportunity for stakeholders to discuss, validate and suggest changes to the draft policy document.
Ms. Olayinka Bandele, Chief, Inclusive Industrialization ECA, speaking on behalf of ECA SRO-SA Director, said that this important step Malawi is taking is vital as it plays a pivotal role in driving economic growth, promoting diversification, generating employment, adding value to exports, fostering technology transfer and innovation, facilitating regional integration, advancing sustainable development, and improving social welfare.
She emphasised the need for Malawi to diversify its economy away from over-dependence on agriculture that makes the country vulnerable to external shocks. She noted that Industrialization has the potential to create employment opportunities, alleviate poverty and improve livelihoods. “Furthermore, value addition to raw materials through industrialization enhances market competitiveness and export earnings. Technological advancements and innovation fostered by industrial development leads to productivity gains and global competitiveness.
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