President for Indigenous Businesspersons Association of Malawi (IBAM) , Mike Mlombwa, says local businesses can benefit from the investment forum being hosted by Malawi only if it there is policy that promotes partnerships between indigenous businesses and foreign investors.
Mlombwa, was speaking on the sidelines of the Malawi-China Investment Forum which is underway in Lilongwe. The forum was opened Tuesday byPresident Peter Mutharika.
Over 100 businesses from Peoples Republic of China particularly from Anhui Province are in the country to explore investment opportunities mainly in Agriculture, Education and Industry and are expected to interact with over 300 local businesses.
Although, Mlombwa expressed satisfaction with seriousness of the Chinese investors, stressed that the most important area for indigenous businesses to benefit from such fora is to bring a policy that promotes partnerships between foreign businesses investors and indigenous businesses.
“We need to tell them black and white that here in Malawi they have come but we need to do businesses in the partnerships. Although we are facing economical challenges and we are looking for investment, but we don’t want to have a scenario where they can come and say here is Malawi, free for all,” said Mlobwa
The IBAM President emphasized that even this Malawi-China Investment Forum “there must be a policy that encourages partnerships with these people from China” and he expressed optimism that that will enable Malawian businesses to benefit.
He explained that the partnership policy will well guide the foreign investors know kinds of businesses they can do while in the country and kinds of Malawi business they can strike partnership with.
“Because we don’t want these investors to come to Malawi to do other businesses which were supposed to be done by indigenous Malawians, so they should be told that this is a boundary,” he added
He therefore emphasized that Malawi businesses need to take part in big projects that Chinese investors would be interested to do in the country including construction projects of say, 5 Star Hotels, roads and many other.
“Malawians must be there, so that may be when we are sharing the profits, even if they take 60 percent and we remain with 40 percent, that 40 percent is going to assist us as Malawi in terms of development”
The Malawi-China Investment Forum is being held under the theme; “Fostering Production Cooperation Between the Chinese Province of Anhui and Malawi”.Follow and Subscribe Nyasa TV :