Mejn demands stock taking on Malawi investment forums: Minister Mussa touts huge gains
Economic think tank, Malawi Economic Justice Network (Mejn) has demanded stock taking on investment forums achievements, saying they are just talk shows.
Mejn executive director Dalitso Kubalasa said Malawi has achieved very little.
“Malawi has very little to show for gains from the forums. Investors come and just make pledges but very little investments come to the country compared to the huge pledges they make,” said Kubalasa.
He said Malawians are yet to see tangible investments from such forums which he said just turn into talk shows.
The third investment forum is slated from 11 to 12 June, 2018 in Lilongwe where high profile investors are expected to attend.
“There has been no progress,” said Kubalasa, adding, “we need to find out why there has been no progress.”
However, Minister of Trade and Industry Henry Mussa sharply disagreed with Kubalasa, saying there are huge gains the country has made through the forums.
Among the achievements Mussa said there are investments which are taking shape following the MIF, such as Lilongwe China Grand Holdings.
Mussa said the Grand Holdings investor attended the first MIF in 2015 and he is now implementing a USD100Million Project along bypass road.
The Park consists of shopping mall apartments, office space among others.
Mussa said another investment worth noting is Urea Gold which is a joint venture between Rev David Gondwe.
“These also attended the 2015 MIF forum so you can see how fruitful these forums are,” said Mussa.
Mussa cited another project of Malawi Housing Corporation and Nedebe.
He said the Group signed an Memorandum of Understanding with MHC to build 2,500 Houses in Mzuzu, Lilongwe , Zomba and Blantyre.
Mussa said many investors want to come to Malawi because the country is peaceful and is conducive for investment growth.
The country faces acute electricity cuts which has paralysed most industry work as either workers have spend most time outside factories or management has to spend much on production costs through fuel for gensets.Follow and Subscribe Nyasa TV :
Honourable Musa, take not of MEJN feedback and change your approach to wooing investors in order to get meaningful results. Firstly konzani ka pansi kuti ka m’mwamba ka tsike. Fix a umber of issues in Malawi before you can invite international investors. Things like, electricity (energy), tax incentives, health facilities, skills development (relevant technical education), water & sanitation and improve on your ease of doing business. Take a leaf from what other countries have done like Mauritius, Botswana, Kenya, now South Africa; to attract FDI. Until you fix these issues, Malawi will never get a fair share of FDI. South… Read more »
This guy is very crooked.