President Professor Peter Mutharika Thursday assured American investors that the country will provide security to their business.
Speaking at Kamuzu Palace in Lilongwe during the meeting with Millennium Challenge Corporation (MCC) delegates from America, Mutharika said the country will also provide fiscal security to them.
“Malawi is a secure place for business and now we are also working at improving security in the country,” explained Mutharika.
He then said the country is moving in the right direction as far as the implementation of the MCC compact is concerned adding that on infrastructure development, a contractor is now in place and they are working on bids for transmission and distribution network upgrade.
“We are also on track working on the resettlement plan so that construction is not delayed. We are reforming the power sector so there is no more monopoly of a parastals but different players should also come in and all concerned stakeholders are involved,” he said.
Mutharika further said government is very committed to see the project succeed for the benefit of the Malawians and it will continue to support Millennium Challenge Account-Malawi (MCA) in the implementation of the compact.
Department of Compact Operations, Vice President Kamran Khan said it is great news that Malawi opened up for private investors on energy at the time it is looking for power for economic growth.
He said they will explore ways on how they can invest and assured the President that they will bring quality not quantity.
Minister of Natural Resources, Energy and Mines, Bright Msaka said the county is looking for more energy for the economic growth in mines, trade and industry.
He said some mines needs about 50 mega watts, to explore the mines and the ministry of trade and industry also need more energy to add on production as they want to be exporting more.
Msaka added that people who applied for electricity needs to be supplied and they need to also fulfill rural electrification.
“Malawi has enough sun, wind and rivers for energy and we want to explore all of them so that in five years times we should not have power interruption,” he said.
The electricity generated by the private sector will be sold to Electricity Supply Commission of Malawi (ESCOM) for distribution.Follow and Subscribe Nyasa TV :