Malawi government through the Ministry of Finance (MoF) and the Reserve Bank of Malawi (RBM) has set up a cordination mechanism to implement the Sadc finance and investment protocol (FIP).
The consultations will focus on attaining sustained high economic growth rates, increased investment levels, employment creation, poverty reduction and adoption of international best practices in the financial sector and investment framework, according to a statement released by MoF on Tuesday.
“In order to attain substantial benefits from FIP, Malawi needs to ensure that its implementation of FIP contributes to sustained high economic growth rates, investment and employment creation, and adoption of international best practices in the financial sector and investment framework,” reads the statement in part.
The statement further said the ministry and RBM will ensure that implementation of the protocol is done to promote the national interests.
In line with the end goal of Sadc, FIP is aimed at contributing to the establishment of a regional common market where there would be free movement of capital, labour, goods and services.