The National Working Group on Trade and Policy chairperson Frederick Changaya says the private sector is key in driving the country’s long-term development agenda, Malawi 2063.
Speaking on the sidelines of the opening of the 2025 Lakeshore Business Leaders Summit at the weekend in Mangochi, Changaya, a development economist, said there are opportunities in every sector and enabler, but collaborative action is still needed for transformation.
He said: “Private sector has driven all developed economies from poverty to first world, powered all highly industrialising countries into accelerated wealth creation.
“Economic development comes from private sector investments in agribusiness and value chains, upstream investments, technology diffusion promotion, innovation and research and development hubs support as well as public private partnerships.”
Through the Malawi 2063, Malawi envisions to be “an inclusively wealthy and self-reliant nation” by 2063.
The strategy is premised on three inter-related and inter-depended pillars of agriculture productivity and commercialisation, resource-based industrialisation urbanisation.
Meanwhile, MCCCI president Wisely Phiri has said this year’s conference convened amid a challenging economic landscape as increased vulnerability to exogenous shocks continues to test the resilience of our businesses.
“As we confront the challenges posed by economic vulnerabilities, the urgency to unlock private sector-led transformation for economic growth has never been more apparent.
“The potential consequences of inaction, business disruptions, stalled progress, and weakened resilience, serve as stark reminders of the critical need for collective efforts to strengthen our economic foundation,” he said.
The summit is being held under the theme Unlocking Private Sector-led Growth: Strategies for Economic Transformation.
