Malawi woos investors as President Mutharika touts untapped development potential
President Professor Peter Mutharika has described Malawi as a country of great investment opportunity and possibilities for investors as a result of good reforms that protect investors.
The President made the remarks on Monday when he presided over the joint opening ceremony of the Malawi Investment Forum and the Southern Africa Regional Integration Stakeholder Forum at the Bingu International Convention Center in Lilongwe.
“We are integrating our policies and rebuilding up corporate and big businesses through legal milestones as some of the steps to encourage private sector investments in the country,” said Mutharika.
He said Malawi would continue to create an environment that favors businesses and economic growth which is expected to be at 4.1 percent and expected to rise to 6 percent by 2019.
Chief Executive Officer for the Malawi Investment and Trade Centre (MITC), Clement Kumbemba described Malawi as an ideal hub for various businesses.
“Malawi has a lot to offer to both local and foreign investors as the economy is growing and improving on all economic indicators,” he stated.
African Union Regional Delegate to Southern Africa, Dr Auguste Ngomo said inorder to realise the vision of a prosperous, peaceful and integrated Africa, there should be heavy investment in high quality regional and continental infrastrure and human skills.
Minister of Industry and Trade, Henry Mussa said the forum would prioritise five key areas that include tourism and energy which potential investors should be considering.
The forum this year is being held under the theme ‘Private Sector-Led Growth; Key to Malawi’s Sustainable growth.
APM: ‘Malawi would continue to create an environment that favours business and economic growth.’ He failed to add ‘but we cannot guarantee an electricity supply 24/7.’ That would have cancelled out all that he had just said. The man knows nothing about business and investment, etc. etc. He uses all the fine words and phrases but is convincing no one who knows what life is really like on the ground in Malawi.
guys be wise enough we are marketing business opportunities. we don’t market chifukwa we have every thing. Even the energy sector we are marketing. Those countries you are able to see today they once had challenges but they managed ndi mtima umodzi. Are you trying to say palibe chabwino alo chimodzi mukuchiona.Try to be honest guys. Muthu sangatisangalatse chonse koma this is the right way to go.
Chitseko, you must understand things. We are not being personal here. Suppose someone wants to take advantage of our cotton and start a clothing factory. Where do you think he/she will get electricity? We are misplacing our priorities.
Kumbemba, Henry Musa and APM please hear what people are saying. What type of people are you? We can’t talk of investment without electricity. Let’s invest in power generation first thereafter everything will be possible.
Major Energy Summit first then formulate highly attractive investmnet incentives (better than Mauritius, Botswana and South Africa) whilst escalating skills and human development with focus on creating a pipeline for artisans and technicians. Get hard hitters from both the private and public sectors to drive these initiatives and give them a year to do so. People like Kumbemba wont get the kind of traction Malawi is looking for. Investment Forums will only be relevant once the energy and skills have been put to bed otherwise Mr Servant in Chief, you’ll talk and talk until your dark skin turns blue with… Read more »
Stop entertaining corruption first before looking for investments