Mutharika says Malawi at ‘turning point’, unbundling of Escom on course: Opens Malawi trade fair

President Peter Mutharika has said the government is set to split the inefficient and ineffective state run power utility company Escom, saying parliament will change the power house act when the House meets from Friday.

Mutharika on one of the stands at the trade fair: Thinking business

Mutharika on one of the stands at the trade fair: Thinking business

President Mutharika officially opens trade fair

President Mutharika officially opens trade fair

Mutharika said this on Tuesday when he opened Malawi International Trade Fair in Blantyre, saying Malawi is a land of investment opportunities and the  country is at a turning point.

He said this was a clear example that the government is taking aggressive steps in addressing fundamentals for economic growth.

“This government is thinking business, we are dreaming business,” he said.

Mutharika therefore said the private sector should work with the government, saying both the government and the private sector should be partners in business.

He said in addition, the government wants to establish a national development commission, has established a ministerial committee on doing business and very soon there will be the launch of trade and industrial policy.

“We are also making comprehensive tax review…Malawi will be one of the best destinations to do business,” he said.

The Malawi leader therefore asked the private sector to invest in production instead of fighting for government tenders.

He said the economy can turn around for the better if the private sector invested in manufacturing which he said creates jobs, saying the government was ready to support such initiatives.

Mutharika also advised companies to stop doing things the old way, but change to new innovative ways.

“There is one principle, innovation. So as business you either become innovative or perish,” said Mutharika.

Trade and Industry Minister Joseph Mwanamvekha admitted that innovation in Malawi remains a challenge, pointing out that customers have become sophisticated and companies must adapt by becoming innovative.

“Malawi needs to embrace a culture of research and experimentation, explore new ways of doing things,” said Mwanamvekha.

He also said the private Sector must produce better products for both local and international markets as as utilise the ‘Buy-Malawi’ campaign

Malawi’s Trade Fair was launched in 1987, and is organised by Malawi Confederation of Chambers of Commerce and Industry (MCCCI).

There are at least 150 companies at the Trade Fair making their exhibitions with 15 foreign companies.

Officials from the Malawi Chamber of Commerce and Industry said more foreign companies are yet to come following the sudden change in the program as the fair was supposed to open on May 20.

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Kanyimbi
Guest
Kanyimbi
4 months 9 days ago

Tax review? Good move but please consider the working class. We pay PAYE and the remaining money is also taken by the government through VAT please do not suffocate us. We should have VAT exemption after paying PAYE otherwise landlords are benefiting more than the working class.

Chingaipe
Guest
Chingaipe
4 months 10 days ago
Political stability is said to be an essential prerequisite for economic growth. Our political leaders are encouraged to therefore create a conducive environment for peace and stability if the wishes are to be translated into tangibles. Intransigence, arrogance, patronage, nepotism, corruption, mal-administration are all factors that would make all potential investors look elsewhere. I can only appeal to the leadership to stop playing lip service to the mantra of “unity” and the quest to rooting out corruption. It should be coupled with real and measurable programs. We have one Malawi…not one for Lhomwes, another for Chewas and yet another one… Read more »
mai mada
Guest
mai mada
4 months 10 days ago

koma chinthu chimozi ma tariff sakwera kuti anthu asiya kukhumbira magesi. Chifukwa company iriyose ikhala ndi Management and Board yake and owalipira akhala ma customers, kaya tiziwonera limozi

Abed
Guest
Abed
4 months 10 days ago

What turning point is he refering to?Every sector is going down the drain and foreign investors are shunning you.

mwithiwa
Guest
mwithiwa
4 months 10 days ago

Good plans indeed. But my question is howany teeth does petulo have. He must think of innovation too, having too many teeth

Moya
Guest
Moya
4 months 10 days ago

Achina mulli alowe mu ESCOM sopano. Malawi looting club.com

Kokota
Guest
Kokota
4 months 10 days ago

COMPANY A IKUTHA IKUYAMBA NDI COMPANY B CHONDE CHONDE ABOMA PAFUNIKA ANTHU KUWAPATSA ZAWO ACHITE KUYAMBILANSO KWINAKU TISAWONE ZOMWE ZACHITIKA MUTAGULITSA MALAWI SAVINGS BANK NDIDZIWE INE BWINOBWINO KUTI AMALAWI TIMAZUNZANA TOKHATOKHA NDIPO NDIKUPEMPHA APHUNGU ANYUMBA YA MALAMULO CHONDE CHONDE MUWATHANDIZE ANTHU ONSE AKUGWIRA NTCHITO KU ESCOM AKUFUNA AWAPUSITSE KUTI SITIKUCHOTSANI NTCHITO KOMA CHILI KUSELI SICHIKUDZIWIKA CHONDE KODI MATIPATE NKUGWIRITSANA FUWA TIKUDABWATU

Jerejede
Guest
Jerejede
4 months 10 days ago

Escom tarrifs now exceedingly surpassed choking point iam now contemplating of buying a generator.

Chilombo
Guest
Chilombo
4 months 10 days ago

I agree with the part that says private sector must invest in production than fighting for govt tenders.I always hear them crying that they are being sidelined,they should look for ways of investing cos nowadays if you are not a politician,you won’t be able to get business from govt.Komabe the govt should make a good business environment for them to invest and pankhani yama tender osamangopatsana nokhanokha ayi

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