APM courts investors at Commonwealth meet: Malawi for industrialised economy
In line with his dream of turning Malawi into an industrialized economy before he leaves office in 2024, President Prof Peter Mutharika has taken it upon himself to sell the country to global investors during his time at the Commonwealth Heads of Government Meeting (CHOGM) when he took to the podium during a parallel session on Business Opportunities in Malawi on Thursday.
President Mutharika dissected the country’s potential as an investment destination in key areas such as security, tax regime, human resource, market availability among others.
“You have very good reasons for coming to invest in Malawi. First of all, Malawi has the resources that you need. You can be assured of raw material resources, security, market availability and a business climate conducive to investment.
“ Malawi has risen by 23 points on the Doing Business Index in the past twelve (12) months. And the Preferential Trade Area (PTA) Bank recently highlighted Malawi as an investment haven in the Southern African region,” said President Mutharika.
He added : “In Malawi, you can invest in Agriculture and agro-processing, Energy, Mining, Tourism, Manufacturing, Infrastructure, Information Communication Technology (ICT), and Financial services, to mention a few”
Mutharika intimated to the gathering on how his government is reforming institutions and systems so as to acquire desirable levels of foreign direct investment (FDI).
“Africa is growing economically. Malawi is part of this growth,” said President Mutharika.
“Like other African countries, Malawi is registering growth in the private sector. We are thus far carrying out serious institutional reforms to secure and consolidate our growth. We are particularly consolidating the investment environment.”
“Malawi has a lot business opportunities and potentials. As far as investment opportunities are concerned, Malawi cannot be ignored,” he said while calling upon the gathering to access copies of Malawi’s investment compendium on bankable projects.
The Malawi leader further assured potential investors of a readily-available market for their products and services.
“We have the labour and the market for your products. Malawi has friendly, disciplined, trainable and hard-working labour force. We are party to a wider market under the Tripartite Agreement, which comprises the Southern African Development Community (SADC), the Common Market for East and Southern Africa (COMESA) and the East African Community (EAC), which has a combined total market of over 700 million people.”
“This offers enormous market opportunities to investors. Currently, we have launched a programme towards the establishment of Africa wide Free Trade Area. Furthermore, Malawian exports enjoy preferential market access to the EU, under the Everything But Arms (EBA) initiative, the African Growth and Opportunity Act (AGOA), Japan, China, India, and a number of bilateral duty free agreements with several countries,” explained President Mutharika.
Since the days of campaigning before the 2014 elections, President Mutharika has always emphasized on how he wants to transform Malawi through massive investment, job and wealth creation which lead to meaningful real income for common people.
Following the Malawi Investment Forum which Malawi hosted in June and now the Commonwealth Business Forum, the Malawi team’s search for investors will head to the United Kingdom (UK) for the Global Investment Summit next week.
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ma investor kudziko lopanda magetsi olo dontho, koma bwampini uyu is indeed clueless!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Let us not criticise the President without providing sound alternative solutions. Power shortage can not be solved by him alone but all who produce and buy charcoal.
It is painfully obvious that Mutharika has scanty understanding of the Malawi economy. How can he say Malawi has raw materials. What raw materials? Even calsberg the basic raw material are imported including bottles. It is obvious that what Mutharika will not bear fruits. He is mistaken. That is why since he became President in May 2014 the economy is going down. This man has no clue on how to move the economy forward.
Fix the power shortage and bring down interest rates from 45% to a growth inducing range of between 5 to 12%. Othewuse no sane investor will come to Malawi. The banking system is killing Malawi’s economic growth!!
Those people who ague mr president u r nyalupi olo Titi dog go go go Mr president we love u
A Gift Natro muli desperately pathetic ngati simukuonabe importance of what the President is doing. This is for us and our Children after he retires from his office and probably from…Malawi does not need people of your attitude. Let us support this president and his vision. Dont support politicians with the usual malawi atitude we have had for years.
There is one fundamental thing that Mutharika seems not to understand. This is that the country does not have liquid capital, also known as working capital. It is a basic business accounting lesson that an organisation can be asset rich but if it does not have working capital which is needed to pay wages, buy raw materials etc then it will surely go unde very very soon. Unfortunately this is the dilemma Malawi under Mutharika faces. Investors can create all sorts of assets be it stadiums, roads, hotels, etc but if there is no liquid capital in the country, which… Read more »
Sir how can an investor come when inflation is at 25% , kwacha depreciation at 40%, no medicines, government never pays there debts in time to the private sector. Malawi needs a miracle or else we are heading toward s a failed state. Mukhale ready mafuta adza mkwera pa December
kkkkkkkk No 2 akudziwikiratu kuti ndi kape wa JB.
Mr Peter Muthalika, it seems you are dreaming wildly. With the worst Escom power load shedding, how could this country become industrialized? First of all solve the power problem in your own country before you go out there telling lies that this country can get industrialized by 2014. After all, we don’t want you to rule up to 2024. That is day dreaming. Go, Go, Go, we don’t want you. You have already messed up this country within 1 year that you have mismanaged our beloved country. JOur Joyce Banda left this country with a least very stable power supply… Read more »