Tuesday, May 28, 2024

Chilima graces CEOs summit: calls for vibrant private sector

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CHILIMA: challenges the private sector to create jobs if the country is to grow its tax revenue base

Vice President Saulos Chilima has challenged the private to spearhead affairs of the country as the sector is the engine of the country’s economic growth.

Speaking at the inuagural CEOs summit in Lilongwe on Friday evening, Chilima challenged the private sector to create jobs if the country is to grow its tax revenue base.

He assured the private sector that government will continue to safeguard the working environment of sector as one way of boosting the economy.

The Veep praised the
inaugural CEOs forum saying it offers a meaningful Public Private Partnership opportunities in the quest for industry based economic transformation.
However, the Vice President urged the private sector to take up the challenge of the industrialization agenda with sacrifice in the exploitation of the numerous opportunities at the disposal.

He said the collaboration between the private and public sectors will help CEOs share views and explore partnerships for commercial ventures.

Among the notable faces who attended the summit, included the Anti-Corruption Bureau (ACB) Director General, Martha Chizuma, National Planning Commission Director General Dr Thomas Munthali, Standard Bank Chief Executive Officer, Philip Madinga, among several others.  

According to Chilima, leaders in both public and private sector should be the ones to take the bullet before punishing employees with retrenchments when an institution faces financial stress.

Chilima then assured the private sector of government’s commitment to the creation of the enabling environment for investment, citing the country’s agenda 2063 which describes the private sector as one of the seven enablers of economic transformation.

Standard Bank Chief Executive Officer, Philip Madinga asked government to promote private sector investment through good governance.

He challenged government to reorganise and strengthen  private sector institutions like the Malawi Chambers of Commerce and Industry (MCCCI) to ensure the country achieves the vision  2063.

He further asked suggested re establishment of Malawi Development Corporation (MDC) to play a leading role in the actualization of long term investment in key sectors.

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