Process of investing in Malawi improved – President Mutharika
President Peter Mutharika has assured investors and other key economic sectors that his administration will provide a stable, enabling as well as secure environment for businesses both fiscally and physically.
Mutharika said in his State of the Nation Address to mark the start of the 46th session of parliament on Friday in the capital Lilongwe
In his 25-minute speech, Mutharika told the 193-member house that his administration has “taken unprecedented steps in creating a conducive business and investment environment.”
Mutharika said through multi-sector reforms that his government has initiated and is implementing, doing or establishing business in Malawi would now be much easier.
He, among other interventions, mentioned the establishment of a One-Stop Service Centre at Malawi Investment and Trade Centre (MITC) which assists investors with registration of companies, land for investment identification, employment permits and issuing of business licences.
The centre also provide information and advice to prospective investors on available investment opportunities.
“The establishment of the One Stop Service Centre at the Malawi Investment and Trade Centre has significantly improved the process of investing in our country.”
In his speech — themed as Building Resilience for Sustainable Development — Mutharika said his government’s reforms are “yielding positive results. “
Said the Head of State: “Malawians may be pleased to note that our country has now risen on the World Bank Doing Business Index ranking for 2016. Malawi has jumped up with 23 places up the doing business ladder.
“This is a positive direction and we are determined to push our global ranking even further. We must claim our place in the world.”
Mutharika also said the Government of Malawi has already embarked on projects that would result in the provision of reliable electricity supply, accessible road network, good airport facilities among other necessary developments that would make business operations and other key economic sectors easily manageable.
“Every Malawian now knows that we are making good progress in attracting investors. We now have illustrative examples to show. We have a 300 Megawatts Kamwamba Coal-fired Power Plant Project coming up.
“Other big investment projects include construction of the modern Chileka International Airport and the National Identity Cards Project. “
Tackling the issue of security, the Malawi leader assured foreign investors of a secure environment , saying Malawi must be a society living free from fear.
“This Government will not relent from safeguarding security, justice and governance. I am aware of the spreading concern, panic and fear around the state of security,” said Mutharika.
Her said contrary to the “created perception” based on a few known cases, actual official statics indicate declining crime rate.
“We will continue to ensure public security by deploying officers accordingly and equipping them more than ever,” said Mutharika, who is also commander-in-chief of security organs Police and the Army.
He said his government us also enhancing security by empowering private security companies.
“Government has started developing the Private Security Companies Policy and Private Security Companies Guidelines in order to control and coordinate the management of the sub-sector. “
President Mutharika said direct investment will “create new jobs, create more businesses, create wealth, provide the best of services and turn Malawi into a predominantly producing and exporting nation.” He added: “ Yes, it is about time!”
Available information indicates that Malawi – which held a first ever investment forum this year – is endowed with rich deposits of various valuable mineral resources that remain untapped.
Among the proven mineral deposits include that of Uranium, Heavy Mineral Sands, Rare Earth, Bauxite, Niobium, Coal, Titanium, Zinc, Phosphates, Gypsum, Vermiculite, Limestone, Dimension Stone, Silica Sand, Sulphides, Precious and Semi-Precious Stones.
The country has also potential for the discovery of hydrocarbons and sizeable quantities of high value minerals including gold, platinum group metals and diamonds.
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As a reluctant foreign investor I would like to voice my opinion on this issue: There are many reasons why Foreign investors are not investing in Malawi, here are some of them. 1) Corruption at all levels of Govt. 2) Bureaucracy & Inefficiency Govt. Depts. 3) High Import duties on Machinery and Raw Materials 4) Inadequate and Expensive transport systems 5) Poor and expensive communications 6) Lack of skilled workers / poor schooling 7) Poor health services 8) Crime & Theft 9) Complicated and bureaucratic Tax collection system 10) Inadequate Utilities (Water, Electricity and Sewerage) I could write at length… Read more »
Why are Malawians also note encouraged to invest. Must investment always come from outside. Did foreigners invest in the UK, USA, China, Malaysia etc for them to develop. Why should we the owners of the country be playing secon fiddle?
munganya wayowoya Makola
Malawi is not conducive for FDI, unless we change that stupid policy of free market economy to protectionism then investers will have confidence in our economy. SA, Uganda, Rwanda are doing fine because of that.
The big problem is electricity to most business people. Kafunseni a zigayo, a ma computer cafés etc amawerukiramo tsiku lonse opanda olo 10 Kwacha.Ili ndi vuto la tsiku ndi tsiku.If only this could be resolved, a FDIs could have come quickly.Manufactures for export would not get bothered about currency depreciation as they trade in US$. This would be good for the country and the currency would eventually pick up.
why are you hiding the mineral reports you fucken people? . Tell us the truth about diamond deposite we need to start mining before your stupid appex who is still stealing our rubies at chimwadzulu hill. Mr president and mr of mining what are you doing with our rubies in mtonda?, do you want indians became rich because of our resources.
Investors will only invest if there is a stable Kwacha currency, they would not like to come here invest there forex and and then see there investments value eroded by devaluation of kwacha. Government please lets have a stable currency if we cannot do that then lets not have hope of attracting investors
Is he talking about Rwandese , Nigerians , Tanzanians , Congolese and Ethiopians investors ? We are only seeing foreigners grabbing our fertile land .
Go on Peter
Mwayankhula za nzeru man APA ok? Bu don’t only speak but do! OK.