Minister of Trade and Industry Mark Katsonga Phiri says the launch of the Pyxus Agriculture Limited Groundnut Processing Plant will help reduce trade deficit and help the country generate forex from the groundnut value chain.
Katsonga admitted that Malawi has been facing chronic balance of payment challenges as forex reserves have been low compared to national requirements.
He hence said the government came up with industrialisation pillar in Malawi Vision 2063 to ensure value-addition of products for exports.
Katsonga said the launch of the plant is complementing the country’s National Export Strategy aiming to increase value-addition of products for export purposes.
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