Mutharika advances industralization drive for economic emancipation at Malawi-China Investment Forum

Malawi’s transition from aid to trade demands massive industrialization drive which should be underlined by building capacity among local investors and courting foreign investors into the economy, says President Arthur Peter Mutharika.

Cross section of some Chinese investors present during the opening of Malawi -China Investiment forum at Golden Peacock on Tuesday (C) Stanley Makuti

Cross section of some Chinese investors present during the opening of Malawi -China Investiment forum at Golden Peacock on Tuesday (C) Stanley Makuti

Some of pavillions mounted by both Malawi and China investors (C) Stanley Makuti (1)

Some of pavillions mounted by both Malawi and China investors (C) Stanley Makuti

President Peter Mutharika speaks during the official opening of the Malawi - China Investiment Forum at Golden Peacock Hotel in Lilongwe on Tuesday (C)Stanley Makuti

President Peter Mutharika speaks during the official opening of the Malawi – China Investiment Forum at Golden Peacock Hotel in Lilongwe on Tuesday (C)Stanley Makuti

President Peter Mutharika is met by Chinese Ambassodor to Malawi Wang Shi-Ting,the leader of delegation Song Weiping and Foreign Affairs Minister Hon.Kasaila on arrival at Golden Peacock Hotel(c)Stanley Makuti

President Peter Mutharika is met by Chinese Ambassodor to Malawi Wang Shi-Ting,the leader of delegation Song Weiping and Foreign Affairs Minister Hon.Kasaila on arrival at Golden Peacock Hotel(c)Stanley Makuti

President Peter Mutharika pose for a group phototgraph with the Investors (C) Stanley Makuti

President Peter Mutharika pose for a group phototgraph with the Investors (C) Stanley Makuti

He was speaking in Lilongwe on Tuesday when he opened the Malawi-China Investment Forum.

“We have a broader investment agenda because we are broadening and diversifying the sources of our economy. We are moving Malawi from a consuming and importing economy to a producing and exporting economy. Therefore, you have come at the right time in our history, “ said the President.

He added, “Moving Malawi from aid to trade demands that we must be producing and exporting in several sectors. We are therefore inviting direct investment in agriculture and agro-processing, energy, mining, ICT, tourism, infrastructure and manufacturing, and many more.”

President Mutharika reiterated the importance of the private sector in achieving the investment goal.

“Our policy on the private sector is clear. We believe that the private sector is the driver of economic development in this country. We believe that foreign and domestic investment is the engine of economic development. We are focusing on developing the private sector in order to create more jobs for our people, “ he said.

He assured both local and foreign investors of his government’s commitment to create a conducive business environment through economic, administrative, legislative and regulatory reforms.

The event which has been convened under the theme “Fostering Production Capacity Cooperation between Malawi and Anhui Province of China” has brought about 100 investors from Anhui Province of China and 250 local businesses at the two-day event.

Areas of focus during the event will be Industry, Agriculture, Agro-Processing and Education.

The investment forum was first discussed when APM visited Anhui Province in August 2015 where he courted investors from the region to bring their businesses to Malawi.

Leader of the Chinese delegation, Song Weiping, hopes the forum will bear fruits that will trickle down to the population through job creation and spin-off small and medium ventures.

Chinese Ambassador to Malawi, Shi-Ting Wang, said the cooperation between the two countries aims at achieving win-win outcomes for both populations through trade and cultural exchanges.

He added that investment is the best way to go for Malawi than donations.

The forum is one of the best interventions by Malawi to boost exports to China in a trading regime where there is a huge trade imbalance between the two countries.

As of last year’s stats Malawi exported goods and services valued at $55 million which only represents 5. 2 percent of total exports. On the other hand the country imported from China goods and services worth $303 million imports from China·

Anhui Province – which has a population of 70 million – has a gross domestic product (GDP) estimate that stands at $350 billion dollars which is the same as that of South Africa.

The province has vibrant industries in Automobile, Mechanics and Agro-processing among others.

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4 thoughts on “Mutharika advances industralization drive for economic emancipation at Malawi-China Investment Forum”

  1. Henzado says:

    Are we moving forward or backwards?

  2. Winston Msowoya says:

    What a waste of time,energy and meagre resources in organizing such a huge forum which will achieve absolutely nothing to boost the so-called economic emancipation in the country that is embroid in corruption and mismanagement on par with Nigeria,Pakistan and India.China embraces such gatherings because it has nothing to loose,Chinese know pretty well what matters to them.Frankly speaking,under Muthalika’s leadership and his good for nothing tribesmen,the forum is a tea party come together,there is no seriousness in the whole endeavour.Right now Malawians accuse his late monstrous brother Bingu for stealing MK61billion from government coffers,astonishingly,he and his a bunch of untaught adherents,defend the criminal that he did not steal the cash and yet there is indisputable evidence on hand and some of the loot,he used in building a Disneyland amidst brutal poverty of the wretched citizens.If our country is to effect real economic emancipation,there must be a change of the government whether we like it or not.Muthalika and his group have failed to deliver the goods and the Chinese people to say the least,have nothing whatsoever,to loose. GOOD LUCK!!!!

  3. Khima says:

    I love positive news..I just love them.

  4. Chandamale says:

    Are u serious, China?

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