President Peter Mutharika says his government hopes to urgently heal Malawi’s economic woes by reducing public expenditure, guaranteeing the independence of the Reserve Bank of Malawi, strengthening public financial management systems and ensuring a restoration of donor confidence.
Mutharika unveiled his four-point economic governance plan when he presided over the launch of Malawi’s Investments Compendium and National Dialogue on Private Sector Development at Kamuzu Palace in Lilongwe on Wednesday.
His key-note speech sealed the launch of Malawi’s first-ever Bankable Projects Compendium, whose genesis began when, earlier this year, the President instructed ministries, departments and parastatals to compile a compendium of investment opportunities Malawi may use to attract more investors and greater development.
“Taking into account the current economic situation, there is no better time than now for government and the private sector to share notes for the good of our beloved country, Malawi,” Mutharika pointed out, noting that the compendium presentations by some business, trade and economic experts were top-class.
On his four-point economic governance plan, the President said he feels that is the key to overcoming the many socio-economic problems Malawians are currently facing.
Farm inputs, energy and the need for the private sector to cooperate fully with government were some of the key issues the President highlighted.
The presentations included ‘Doing Business In Malawi’ by the Bankers Association of Malawi (BAM), ‘Challenges Affecting the Private Sector’ by the Malawi Confederation of Chambers of Commerce and Industry (MCCCI) and ‘Malawi Projects Compendium’ by the Ministry of Trade and Industry.