President Lazarus Chakwera says government is determined to create a conducive and competitive business environment for the private sector to thrive.

Chakwera made the remarks when he opened the first ever virtual domestic investment forum organized by the Malawi Investment and Trade Centre (MITC).

Chakwera indicated that an enabling business environment will help create employment opportunities for Malawians, lift people out of poverty and jobs and transform cities among others.

Chakwera said: “An enabling business environment is one in which government provides tax incentives to attract prospective investors in sectors that are integral in stimulating growth across the entire economy.”

Minister of Trade Sosten Gwengwe took time to underline the importance of paying attention to the domestic market as an investment source at present time as Covid-19 has shaken up investment opportunities.

“Businesses have scaled down on production and trade thereby putting pressure on national revenue and resulting into huge unemployment, just to mention a few,” said Gwengwe.

And In his remarks, Karl Chokotho, the board chairperson for MITC said the forum is an opportunity to generate investors and trade leads.

He said the country cannot continue to rely on external support therefore it is key to unpack opportunities that exist domestically.

“The forum aims at publicizing investment opportunities to local investors, providing trading opportunities for producers, link investors to financing sources and facilitating joint venture partnerships,” Chokotho said.

The forum is being held under the theme ‘Making Malawi a Resilient, Competitive and Productive Economy through Private Sector Investment’.