Minister of Trade and Industry Mark Katsonga Phiri has described the Special Economic Zones as key to fast-tracking industrialisation that will in turn lead to sustainable economic growth and development for Malawi.
Katsonga was speaking in Niger at a joint meeting for African Union Ministers who are in charge of industrialisation, economic diversification and the African Continental Free Trade Area (AfCFTA).
“The industrial sector in most African Union Member States including Malawi has been facing a lot of challenges over the decades and this has affected our ability to compete on the global market. In an endeavour to turnaround the status quo, Malawi is establishing Special Economic Zones to fast-track industrialisation that will lead to sustainable economic growth and development,” Katsonga said.
The Minister continued that the Government of Malawi finalised all the processes of its membership to AfCFTA to enhance public and private sector participation.
Katsonga, therefore, urges all stakeholders to join hands in creating a conducive environment for the industrialisation drive to thrive in the country. – By our contributor.