Minister of Industrialization, Business, Trade and Tourism, George Patridge, has urged the Malawi Investment and Trade Centre (MITC) to strike a balance between attracting foreign investors and promoting local investment, saying Malawi's economic growth depends on empowering both.
Speaking on Tuesday during an interface meeting with MITC management in Lilongwe, Patridge expressed concern that local investors are often sidelined in favor of foreign companies, despite their potential to drive inclusive and sustainable industrial growth.
"What we need are not just beautiful reports but tangible results that can be seen and felt on the ground," Patridge said, stressing that the government's focus should be on measurable impact, not just policy rhetoric.
The Minister cited the slow implementation of the Special Economic Zones (SEZs) as a key example of missed opportunities. The SEZs -- earmarked for areas such as Lilongwe, Blantyre, and Mzuzu -- are designed to attract manufacturing, agro-processing, and export-oriented enterprises that would diversify the economy and create jobs.
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"These zones have the potential to transform Malawi's productive sector, generate employment, and position the country to compete meaningfully in the regional and global marketplace," he said. "But progress has been painfully slow. You need to set clear plans, timelines, and accountability mechanisms for what you want to achieve."
Patridge further emphasized that while foreign direct investment (FDI) remains vital, Malawi cannot rely solely on external investors for economic transformation. He noted that local entrepreneurs often face challenges such as limited access to finance, bureaucratic bottlenecks, and lack of market linkages -- issues that MITC must address if the country is to achieve its industrialization goals.
"Foreign investors will always come if the environment is right, but our own people must also feel supported and prioritized," he added.
MITC, established in 2012 through the merger of the Malawi Investment Promotion Agency (MIPA) and Malawi Export Promotion Council (MEPC), is mandated to promote both domestic and foreign investment, facilitate exports, and help businesses tap into international markets.
Patridge's remarks come at a time when Malawi is pursuing an industrialization and job creation agenda under the Malawi Vision 2063, which seeks to transform the country into an inclusively wealthy and self-reliant economy.
The Minister's call serves as a reminder that sustainable development must be homegrown -- built on the ambition, creativity, and resilience of Malawians themselves.
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