President Peter Mutharika has asked local and foreign companies to invest substantially in value addition to Malawian products, saying such interventions will help to develop the economy.
Mutharika made the appeal when he presided over the official opening of a factory extention at JTI Malawi Limited at Kanengo in Lilongwe on Thursday.
“While I commend you for this investment, which I have been assured will be long term, I wish to appeal to you to consider adding value to our products,” said Mutharika to JTI authorities.
JTI Malawi Limited is one of the tobacco buying companies in Malawi.
Mutharika said value addition ensures that products fetch more on the market and also creates opportunities for the people including jobs.
“For this reason, I wish to encourage you to consider manufacturing tobacco products, including cigars and cigarettes right here,” said Mutharika.
” When we export products in their raw form, we lose on incomes and job opportunities for our people,” he explained.
The Malawi leader commended JTI Malawi Limited for the huge investment, saying it will contribute positively towards the expansion of the economy.
He explained that the economy of Malawi can only make progress through trade.
“This is the reason investment into products that are competitive on the international market is very vital,” he said.
The policy of the Mutharika administration is to create an economy that is driven by trade through local and foreign direct investment.
Last week he had an interface with the business community to emphasize the importance of private sector contribution to the development of the economy.Follow and Subscribe Nyasa TV :