New Trade Minister talks industrialisation
New Trade Minister Simplex Chithyola has said he wants to strengthen local industrialisation during his time at the helm of the Ministry of Trade and Industry.
On February 1, President Lazarus Chakwera replaced former Trade Minister Mark Katsonga Phiri with Chithyola in a Cabinet reshuffle that has seen the number of Cabinet members being reduced to 27.
Chithyola is no stranger to industry, having served as Chairperson for the Parliamentary Committee on Industry, Trade and Tourism.
In his maiden interview on Wednesday, Chithyola said time has come for Malawi to boost the industry sector as one way of cutting on unnecessary imports and propelling exports.
“We need to start making high value products and cut on the unnecessary imports. I believe if we could strengthen the industry, Malawi can create the much-needed jobs,” Chithyola said.
He added that he will pay close attention to the challenges industry is facing to ensure that the private sector starts ticking.
According to Chithyola, he would like to revamp the Buy Malawi Strategy by ensuring that local manufacturers are given the right incentives to produce more for the local and international markets.
He added that he would like to look at the legal and regulatory environment to ensure that Malawi does not continue to lose its products through unregulated exports.
“We all know about the Mgona Market and how we are losing our groundnuts and soyabeans through unregulated exports,” Chithyola said.
Malawi University of Business and Applied Studies Associate Professor of Economics Betchani Tchereni hoped that, this time around, the country’s industrialisation drive would take off.
According to Tchereni a weak local industry has resulted in Malawi importing almost everything, thereby exerting unnecessary pressure on the country’s thin forex reserves.
“It is my expectation that, this time, just may-be this time, the Ministry of Trade and Industry will be rejuvenated with some youthfulness and promote the industrialisation drive,” Tchereni said.
