By Lloyd M’bwana
DUBAI-(MaraviPost)- Strong institutions and well-developed human resources are a recipe for unlocking business opportunities in Africa, it has been emphasized.
This comes amid the daunting task developing countries, like Malawi, with the challenging efforts to get reliable markets for their respective valued added products.
Malawi’s Industry, Trade and Tourism Henry Mussa told the African Global Business Forum 2017 this week in Dubai, that if the two sectors are not fully developed, Africa will remain undeveloped economically.
Mussa said that strong institutions, with a full mandate toward private-sector led development, will naturally veer countries in a responsive pathway to enable the investment climate through various interventions.
The Malawi Trade Minister said the first fundamental step is to strengthen countries’ public institutions and migrate their mindset from the traditional thinking.
He therefore, lauded Malawi’s public sector reforms that are focusing on reviewing and introducing new and conducive policies including re-engineering administrative processes that the investment process and granting of permits and approvals is streamlined.
“Strong institutions and well-developed human resources will create business opportunities, and will develop an enabling investment environment in a focused way depending on the needs of our respective nations because the system will have capacity to objectively identify, appraise, analyze and address the problem areas.
“I know that many countries are implementing reforms to adjust their administrative processes accordingly, which is the way to go. However, for all these business opportunities to be unlocked, I believe that there are fundamentals which must be addressed first, and which Africa needs to patriotically and religiously work on. I have picked on what I believe are probably the two most basic and strategic ones,” said Mussa.
Currently, Malawi has moved from position 183 on the Doing Business Reforms to 110 , a move that will boost huge investments.
