APM says Malawi focus is on investment and trade not donor aid

President Peter Mutharika has said his government’s priority is attracting huge investments and trade as time for donor aid is up.

Mutharika: Focus on trade and investment and not aid

Mutharika said this Monday at Sanjika Palace in Blantyre when minister of Foreign Affairs George Chaponda briefed journalists on his trip to India where he represented Mutharika at India Africa summit.

President Mutharika said the only way out of donor freeze is to attract foreign investment that would create more jobs for Malawians.

In his briefing, Chaponda said India has pledged a lot of aid to Africa, including Malawi.

Chaponda said the India aid package includes 50 000 education scholarships.

The India–Africa Forum Summit (IAFS) is the official platform for evolving negotiations and monitoring parameters of the African-Indian relations.

Malawi is going through serious economic problems because of donors decision to withdraw budgetary support.

Chaponda said he took the opportunity to remind the Indian government of its aid pledges which are yet to be fulfilled.

“Malawi’s participation at the India-Africa Forum Summit was important as it showed Government’s commitment to enhance South-South Cooperation, and specifically its appreciation to India’s cooperation.

“It also presented an opportunity for bilateral discussions at which experience was shared on ongoing partnership activities, attention was drawn on lessons learnt; follow up activities and future needs. Furthermore, Malawi benefited from being considered New lines of credit and grants,” he said.

Malawi has thousands of Indian investors although some of them run huge investments creating thousands of jobs, most of them run shops highly competing with local Malawians.