Business

Industry promotion key to transformation—NPC

The National Planning Commission (NPC) has emphasised the need for the country to depoliticise implementation of the next development agenda and put in place policies in promoting private sector operations.

This, NPC says, will help move the country to becoming economically independent by 2063.

In its 2019 Annual Report issued Tuesday, the commission says the new development drive will be for resource-based industrialisation where the private sector will be critical.

“Through full incentives such as Special Economic Zones, investment-promoting taxes, special purpose financial vehicles and removing burdensome regulations, among others, the economy can drastically take a turn for the better.

“Malawi should open up in order to attract Foreign Direct Investment for exports and import substitution,” reads the report.

NPC says is focusing on developing a successor plan to Vision 2020 through series of inclusive consultations and gathering of well-researched evidence that will inform the transformative development pathways.

“It is important that Malawi should link the new long term agenda to the continental aspirations manifested in Agenda 2063, which maps out the goal of a prosperous, integrated/united and peaceful continent, all elements of which remain relevant to Malawi.

“Again, in 2063, the country will have clocked 100 years of political independence and so it will be important to have a Vision of an economically-independent country that is self-reliant by creating its own wealth in 2063,” reads the report.

The commission has proposed that the next development plan be named National Transformational 2063.

Tags
Show More

Related Articles

Back to top button
Close
Close