Industrial parks have proved to be the key engines for economic growth in both developing and underdeveloped economies. The government of Malawi is currently developing industrial parks in the cities of Blantyre, Lilongwe and Mzuzu to drive industrialisation and stimulate economic growth in the country.
Minister of Industry and Trade Mark Katsonga Phiri has since said that industrial parks are an ideal catalyst for industrialization and economic development since they help put into place an infrastructure that fosters and attracts investors.
"These industrial parks will not only help us enhance our industrial base, but they will also make it easier for us to find land for investment. You know at the moment there are some challenges in identifying land for investment for both local and foreign investors. But the coming in of these industrial parks like the one here in Chigumula will make it easier for us in facilitating land to potential investors. The good thing is, this land will be serviced with utilities like water, power and roads and this makes it even more attractive to potential investors."
Apart from facilitating land for investment, industrial parks also promote economic activity in adjacent neighbourhood areas by offering better employment opportunities.
Malawi Investment and Trade Centre-MITC is particularly instrumental in the development of these industrial parks in Malawi. The Chief Executive Officer, Paul Kwengwere, said the Chigumula site in Blantyre has 22 hectares of land that is almost ready for allocation to potential investors.
"The site we have here in Chigumula can take up to 61 medium sized plots. We are almost ready with it and it is our hope that soon we will start allocating it to investors. Our vision is to have a manufacturing hub for for textiles, chemicals, electronics, leather, and also an agro-processing hub for food and beverages within this park. So we are looking forward to working with investors that are interested in establishing their businesses in these parks."
Apart from Chigumula site in Blantyre, MITC is also working on developing other industrial parks in Matindi-Blantyre, Magwero (Area 55) - Lilongwe and Dunduzu in Mzuzu. These parks will be specifically designed to accommodate plots for factory shells suitable for small, medium and even larger factories.