Chakwera’s Private Sector Labs get overwhelming support as more than 140 companies register

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Chakwera’s Private Sector Labs get overwhelming support as more than 140 companies register
Chakwera’s Private Sector Labs get overwhelming support as more than 140 companies register

Africa-Press – Malawi. There has been an overwhelming response from both local and foreign investors to be part of the first ever Private Sector Labs, an initiative of President Lazarus Chakwera. The initiative is aimed at championing wealth creation, job creation as well as food security in the country.

At the closure of submission of expression of interest more that 140 local and foreign companies have registered for the first Private Sector Labs to be launched on June 21.

Speaking in an interview on behalf of the Head of the PDU, Director at PDU Hendrina Givah said they have received an overwhelming response from both local and foreign companies.

“I can confirm that over 140 local and foreign companies have registered for the first ever Private Sector Labs. These companies are into agro-processing, food processing and manufacturing, industrial manufacturing, financial service providers and energy,” said Givah.

According to Givah, following the closure of the expression of interest period, PDU is now engaging the government side on the issues raised by the private sector players and see how best the two sides can come up with solutions to challenges raised.

“From the private sector players, the major issues that are emerging relate to taxation, access to finance, land ownership, Energy supply as well as lack of clarity on the export procedures as it seems most players are not aware of the procedures involve,” said Givah.

On May 20 this year President Dr Chakwera ordered the Presidential Delivery Unit (PDU) to coordinate the Private sector labs alongside the Ministry of Trade and the Malawi Investment and Trade Centre. Following the announcement, the PDU floated an advert calling for expression of interest from interested private sector players.

Meanwhile, Givah has said that the meeting which President Dr Chakwera had with cabinet ministers and heads of government agencies on Tuesday demonstrates the President’s serious commitment to see to it that the Private Sector Labs become a success.

“Tuesday’s meeting demonstrates a spirit of willingness and excitement to come and meet to engage, dialogue and find solutions together so that the mood is sustained before the launch,” she said. President Dr Chakwera is expected to launch the first Private Sector Labs.

The Private sector labs are one of the numerous initiatives that the Chakwera administration is championing in a bid to build a resilient and self-sustaining economy through the Malawi 2063 agenda.

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