The Ministry of Industry says it is targeting to boost the contribution of mining to gross domestic product from the current nine percent to 30 percent by 2030.
Secretary for Industry Peter Simbani was speaking when he appeared before the Public Accounts Committee (Pac) of Parliament.
Simbani said one of the pillars of Malawi 2063 is industrialisation and that that is the reason why government created a special ministry responsible for industry to champion the industrialisation agenda.
He said, moving forward, the ministry wants to scrutinise the legal framework, the policies as well as strategies that have been implemented.
He said government on one hand will focus on large industries where it will look at Special Economic Zones and that four sites have been identified for construction of factory shells and that Capital Hill will invite investors to use the factory shells to manufacture products.
“Investors who will come in the Special Economic Zones will enjoy specific incentives that government will come with. A bill has already been prepared and, once it is passed in Parliament, it will spell out the incentives for investors,” Simbani said.
He added that the ministry has also crafted the Rural Industrialisation Strategy focusing on the areas that produce specific products, citing areas such as Mwanza which produce tangerines, as one of the districts to be targeted by this strategy.
Pac Chairperson Shadreck Namalomba said the Ministry of Trade needs to do a lot in promoting industrialisation in the country.
Namalomba said the committee needs to convience Malawians that the country is poised to achieve the aspirations stipulated in the Malawi 2063.
Currently, agriculture is the major contributor to the economy, contributing about 28 percent, followed by wholesale and trading at around 15 percent.
President Lazarus Chakwera early this year launched the Malawi 2063 in which Malawi is aspiring to become an upper middle-class economy by 2063.
The new vision is anchored on three strategic pillars, namely: agricultural productivity and commercialisation; industrialisation; and urbanisation.