In its 2019 Annual Report, the National Planning Commission (NPC) has said that Malawi must place policies in promoting private sector operations. According to the reports, contents, such policies will help move the country to becoming economically independent by 2063.

“Through full incentives such as Special Economic Zones, investment-promoting taxes, special purpose financial vehicles and removing burdensome regulations, among others, the economy can drastically take a turn for the better.

“Malawi should open up in order to attract Foreign Direct Investment for exports and import substitution,” reads the report. In April, the Malawi Confederation of Chambers of Commerce and Industry (MCCCI), which is a partnership of enterprises and associations representing all sectors of the economy of Malawi, raised concerned over energy supply shortage and high cost of doing business. The above was discussed at MCCCI annual general meeting, where the firm’s President, Prince Kapondamgaga outlined the obstacles, blaming the players in the financial sector for ‘exaggerating risks associated with lending’.

Fast forward to the NPC Annual report, the commission has said that through full incentives such as Special Economic Zones, investment-promoting taxes, special purpose financial vehicles and removing burdensome regulations, among others, the economy can drastically take a turn for the better.