HomeWorldAfricaMalawi benefits from Productive Capacities Index Advancement

Malawi benefits from Productive Capacities Index Advancement

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Blantyre, 5 October 2023 (TDI): Malawi recently emerged as a significant beneficiary of the pioneering Productive Capacities Index, a revolutionary tool that has reshaped the way development is measured.

This tool provides precise routes to amplify economic transformation through Malawi’s alliance with UNCTAD.

In a comprehensive briefing, United Nations (UN) Resident Coordinator, Becky Adda, was apprised of the indispensable role that the United Nations Conference on Trade and Development (UNCTAD) has played in driving sustainable development goals (SDGs).

She was also briefed on Malawi’s Vision 2063 (MW2063), along with the fortification of the nation’s economic resilience against unexpected shocks.

During the briefing, UNCTAD outlined how the Productive Capacities Index (PCI), a dynamic instrument, serves as a game-changer in evaluating a country’s developmental progress.

This tool encapsulates a multifaceted approach, meticulously analyzing a nation’s capacity to produce goods and services that meet both domestic and international demand.

Assessing a nation’s productive capacity, PCI offers a roadmap for governments and stakeholders to bolster their economic trajectory in alignment with development objectives.

Malawi’s integration into the ambit of the PCI ushers in a new era. It enables a comprehensive evaluation of the country’s industrial, technological, and trade capabilities.

The index examines factors such as infrastructure, technological prowess, market accessibility, and trade diversification, providing an intricate understanding of Malawi’s economic landscape.

The insights gleaned from this evaluation empower policymakers to formulate targeted strategies and policies that spur productivity, innovation, and sustainable growth.

Becky Adda emphasized the crucial role that the UNCTAD plays in supporting Malawi’s endeavors to achieve SDGs and MW2063.

Through strategic cooperation and robust initiatives, the UNCTAD is instrumental in bolstering Malawi’s economic resilience, enabling the nation to navigate through unforeseen economic challenges with agility and adaptability.

Also read: SADC Council concludes meeting, approves aid to Malawi

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