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 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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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.
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 »
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
What turning point is he refering to?Every sector is going down the drain and foreign investors are shunning you.
Good plans indeed. But my question is howany teeth does petulo have. He must think of innovation too, having too many teeth
Achina mulli alowe mu ESCOM sopano. Malawi looting club.com
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
Escom tarrifs now exceedingly surpassed choking point iam now contemplating of buying a generator.
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