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Minister of Trade Simplex Chithyola Banda says trade and industrialization will accelerate infrastructure and economic development for Malawi to realise the 2063 agenda.
Speaking on Sunday in Libreville, Gabon where he is leading a 14 member delegation to three African countries of Gabon, Benin and Togo to benchmark on industrial parks Chithyola Banda said government is keen to fast-track the long awaited Special Economic Zones (SEZ) otherwise known as industrial parks.
“The aim of the trip is to appreciate the development of industrial parks in the three countries which were funded by the Afreximbank and developed by the ARISE Integrate Industrial Platform (ARISE IIP) Group. SEZ is a special purpose vehicle for accelerating economic development and local industrialization in Malawi.
“Government has put much interest on developing the industrial parks which will expand Malawi export products and improve the foreign exchange earning. We want to fill in the gap created by the Russia-Ukraine War by supplying even to European markets where food supply chain has been disrupted,” he said.
In his remarks the Solicitor General Allison Mbang’ombe said his participation is to look at and understand the legal and regulatory framework under which the industrial parks were premised and study how the western African countries are managing them.
ARISE IIP Group Chief Executive Officer Gagan Gupta said with support from Afreximbank they will design and develop the industrial parks to respond to the aspirations and needs of the people of Malawi.
“I am particularly happy that Malawi has taken a serious path to develop the industrial parks and Afreximbank is happy to support the initiative which will go a long way in improving Malawi’s economy,” he said.
Malawi government wants to develop the four industrial sites of Area 55 in Kanengo Lilongwe, Dunduzu in Mzuzu, Chigumula and Matindi in Blantyre respectively.