ECONOMIC EXPERT CALLS FOR AN INDUSTRIALIZATION STRATEGY

 By Kenson McCloud

An economic expert has called on the private sector to invest more in industrialization saying it has potential of growing the country’s economy.

The remarks come as National Planning Commission has embarked on a consultative process with some stakeholders on key interventions needed in different sectors towards the implementation of the Malawi 2063 blue print.

Speaking to Timveni, Poly Technic  based economic expert, Dr Betchani Tchereni said, "There is need for the private sector to focus more on import substitution and value addition."

Tchereni observes that most of the vibrant companies are service providers and not job consumptive.

"We have to invest in key areas such as manufacturing and agriculture which have potential of boosting the economy." said Tchereni.

However he was quick to point out that  the government has to provide more incentives on taxes to attract more players in the sector.