President Peter Mutharika has promised that his government will put in place a robust policy and legal framework to guide investments in the mining sector.
Mutharika promised this on Friday, in a state of the nation address boycotted by the opposition in Parliament.
Addressing legislators from his Democratic Progressive Party (DPP) along with a few independents, Mutharika said: “Moving forward, we will establish a mining investment vehicle. This institution will provide stewardship in promoting sustainable mineral development and mining investment. “
He added: “The vehicle will also assist in curbing illegal mining in the country.”
The Malawi leader, who titled his address ‘Consolidating Our Gains for Rapid Transformation’, also said government will also ensure that this country has its own laboratories to test minerals.
Mutharika, 78, a former law professor, presided over improvements to infrastructure and a slowdown in inflation during his first five-year term.
He said this year’s anticipated growth of 5 percent, up from around 4 percent in 2018, would be driven by increased production in agriculture, and supported by mining, ICT, and financial services.Follow and Subscribe Nyasa TV :