Lilongwe: The Chinese government is expected to fund the construction of an industrial zone in the country where various clusters of related industries will be located and provided with special incentives to facilitate faster industrial growth. Minister of Industry and Trade John Bande disclosed in an interview with Business Times in Lilongwe that processes have already started and that government officials last year visited China and Zambia to familiarise themselves with the concept.
"We believe this is the best way to ensure fast industrial development because this has worked for other countries like China. But we are still at the learning stage," said Bande.
He said various stakeholders, including ministries of Finance and Economic Development and Industry and Trade, Malawi Revenue Authority and Malawi Investment and Trade Centre are involved in the planning of the project. He said government would identify an area with suitable resources for industrial development where investors will be given special incentives for faster industrial growth.
Bande said government will give China a comprehensive proposal on the project once the preliminary stages are done. "Once we comprehend the whole concept, we will come up with our own suitable plan of such a project in the country," said Bande.
