By Elia Chibwe

Lilongwe, June 1, Mana: President Dr Lazarus Chakwera says his government is working on restoring factories and banks that were sold by previous government, as one way of controlling the country's currency.

Speaking Saturday during the launch of Magwero Industrial Park Project at Area 55 in Lilongwe, Chakwera said some of the challenges the country is facing by selling of factories and banks that would have assisted to control the country's currency.

"I do not have time for fighting with anyone but to ensure that the lost economy is restored. The companies and factories that were sold should be back," Chakwera said.

He, therefore, cautioned against abusing power to delay the project saying such behavior is not condoned and those found doing that will be brought to book.

Minister of Trade and Industry, Sosten Gwengwe, said the project is important in building Malawi.

"This is important to any investor. Those who invest in these parks and do production, should also have the markets locally and they will be supported," Gwengwe said.

President for Malawi Confederation of Chambers of Commerce and Industry, Wisely Phiri, said the project is an opportunity for vocational skills and mutual development.

Member of Parliament for Lilongwe City Centre, Alfred Jiya, hailed government for the project saying it will accord the youth employment and impart skills among people.

"I see piped water and electricity coming here and I see youth getting jobs from this park," he said.

The park, which sits on a 400 hactare land, will have different industries specialized in agro-processing, chemical and plastic and is expected to help advance the country’s economy as envisioned in the Malawi 2063.

Government acquired US$200 million from Afrexim Bank for the project whose area will be developed by Arise Integrated Industrial Platform.

The launch was held under the theme "Catalyzing Industrialization in Malawi".