Business reforms bearing fruits, says Malawi Investment and Trade Centre

Legislative, business and administrative reforms coupled with political will and drive are cementing Malawi’s business reforms that the country has become competitive at international level, the Malawi Investment and Trade Centre (MITC) has said.

MITC Director of Investment Promotion Joshua Nthakomwa told investors, business captains, financiers and UK government officials, that the reforms that were initiated in 2014 were now being implemented fully including the systems that had been resistant to change.

“We at MITC we are happy. You can institute reforms, implementation is always a challenge. But with Political will and Government’s own drive, I can say confidently the reforms are being implemented and bearing fruits. The systems might have been stuck in the past before, but now the drive to do better, the drive to get things done, the drive to perform is coming from every level of the system,” said Nthakomwa.

He told the London business elites that over 40 pieces of legislation had been passed or intended to be passed to enable Malawi business environment which is being supported by policies and strategies that include the National Investment Policy which is being developed, the National Agriculture Policy, National Export Strategy and administrative changes such as the one stop border processes.

“We have Land Policy and Act, National Transport Master Plan, Industrial Policy, Electricity Act, E-Government and developing Special Economic Zones. This has been the massive overhaul of all key sectors that can deliver for an investor and boost our competitiveness. The response is overwhelming, the results are starting to show, I can say Malawi is open for business,” said Nthakomwa.

He said other areas of reforms include institutional capacity which has seen new institutions such as the National Planning Commission and improving access to finance and energy and digital adaptation of most public services systems.

Malawi has been registering improvements in international rankings, in terms of ease of doing business.

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