National Construction Industry Council of Malawi ( NCIC) says it is working towards ensuring that a lions share in construction industry is done locally and that there is implementation of sustainable level of works and services, skills and technological transfer.
Malawi firms undertake 3% of construction works and close to 97% are externalized through awarding of works to foreign firms,a development that siphons the local economy to other countries.
The NCIC has hinted its working towards phasing out all sub-standard contractors to regulate individual profession and enhance quality infrastructure. The process is possible by ensuring coordination among and regulation of relevant of agencies from interception to project completion.
The revelation were made during National Construction Industry Policy Implementation, Monitoring and Evaluation Strategy held in Blantyre on Friday.
In her remarks NCIC Chief Executive Officer Linda Phiri cited the need of registering Malawi Construction firms to ensure technically competent. She further uttered the process will enhance resource management importation of managerial skills.
"The policy will allow all key stakeholders understand what what it contains. For capacity building, the body will start implementing compulsory training for all registered contractors. This is aimed at having capable contractors that can deliver," cited Phiri.
For the past years, the construction sector has been hit by high interest rates by commercial banks. The banks charges more than 40% interest rate to local firms. This is twice higher than what is charged to foreign firms.
According to Phiri, the policy will allow Malawians to undertake more in values and expand to other countries. The policy's vision is to have "a dynamic construction industry that fosters economic growth and international competitiveness."
It was approved by the Cabinet in April this year and was launched on 23rd June 2015 by Ministry of Transport and Public works.