The Indigenous Business Association of Malawi (IBAM) has expressed optimism that government will create a favorable trading environment for local businesses.  

Delivering his State of the Nation Address (SONA) in Parliament on Friday, President Peter Mutharika said local businesses need to be empowered by expanding their business and creating more jobs through buying their products in the next five years.

President for IBAM, Mike Mlombwa told YFM that government should walk the talk in ensuring consumption of domestic goods and services.

“We are very happy and we are yet to see, because here in Malawi implementation is the major challenge, let`s hope that this time around government will empower local businesses,” said Mlombwa.

Mlombwa added, there is need for concerted efforts from the relevant stakeholders in the business community in order to achieve the much desired output.

“We need to collectively fix all the bottlenecks in order things to be done accordingly from the high positions where decisions are made to the practicing businesspersons,” added Mlombwa

According to President Mutharika, the DPP led administration remains committed in transforming the country`s economic sector through majoring in exports.

“My Government remains steadfast on our agenda to transform Malawi from a predominantly importing and consuming country to a predominantly producing and exporting country,” declared Mutharika.

The Malawi leader added that the launch of the Malawi Agricultural and Industrial Investment Corporation (MAICC) in December 2018, is a vehicle for financing of agriculture and industrial projects in the country.