Mutharika says attracting foreign direct investment crucial to boost Malawi economy

The State President, Professor Arthur Peter Mutharika says the coming of the Lilongwe Grand Business Park in the city is testimony that the direct investment program is delivering results by bringing money and jobs into the country.

President Mutharika laying the foundation stone. Photo by Mana

Minister Mussa and Vice President Chilima discussing the projectt. Photo by Mana

President Mutharika speaking ft the ground breaking ceremony for the construction of Lilongwe Grand Business Park and Five Star Hotel at Area 46,.-Photo by Stanely Makuti, Mana

The President made the statement during the ground breaking ceremony for the construction of Lilongwe Grand Business Park and a five star hotel in area 46 in Lilongwe.

According to the President, in order to build a strong economy in this region, Malawi needs a smaller government and a bigger private sector.

“It is by opening one investment after another that we build a bigger private sector. It is by building a bigger private sector that we create more wealth, and we create more jobs,” emphasised Mutharika.

The Head of State said he would like to see a Malawi where every graduate gets a job and has the capability to create their own employment and employ others through the development of skills for the youth, giving them equipment, loans for investment, capital and creating a bigger private sector through direct investment.

“Our reforms are working, which is evident through our rise on the Doing-Business Index, meaning the world is assured that Malawi can accommodate private investors and new businesses more than before,” he said.

The First Citizen, therefore, urged responsible departments to encourage the spirit of investment to find winning ways of fast-tracking investment projects but without cutting corners.

Chinese Ambassador to Malawi, Shing Wang Ting, said although Malawi has an agriculture economy with low productivity in the service area, the Grand Business Park will be an important move towards a comprehensive economic development for the country.

“The Malawian Government has made many efforts to create a conducive environment, which is why we will encourage more Chinese companies to come to Malawi and seek business opportunities,” said Wang.

Executive Chairman for China-Lilongwe Grand Holding Corporation Limited Zhangjian Ma applauded the Malawian Government for creating a favourable economic environment for investors and promised to be efficient and maintain high standards throughout the construction of the business park.

The business park, which is estimated to cost around MK73 billion, will be composed of a shopping complex, a high class office building and a five star hotel.

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Awize
Guest

Foreign investors yes, BUT in Malawi there is no reliable power for manufacturing and production. We are sleeping in the dark for days. Manufacturers are producing at a very high cost due to frequent power outages. Can the investors bring in there wealth here where power is the biggest challenge.

Elube
Guest

Banana Republic

Nganiza Muthulika
Guest
First mangesi. How are they going tog build that complex withiout mangesi? I have heard so many projects he has put foundations and is going ro build my question when is he going to do those projects? Even If he get 5 years he wont be able to finish them because 10 years is the limit according Malawi constution.. I think he thinks Malawians are stupid. Bingu promised 5 universtities. How many he built in hus 8 years in hos term? Its takes more than to finish a hotel of that kind. He talks exklusive hotel in Cape Maclear. Many… Read more »
Nganiza Muthulika
Guest

Poor people have NO benefit hotel and can not create long term job.

Nganiza Muthulika
Guest

He has said that since he 2014. He went to UK to talk to investors. The investors came to Malawi nothing has happened. Building a new hotel Who is going to stay there? How many hotels is Lilongwe going to have? Where is electricity? This man is rreally senseless. His brother built presidential homes that he called development what happened with them? NO presidents stay there? Is This hotel his. Because that is what these thieves do. A Malawi get lid of these old man before he becomes like his uncle Mugabe.

Mike Chibwana
Guest

This man is either deluded or mad. Which investor will invest in a country which is 25hrs in darkness??

Banks are full of USD noone to buy them…. that tells you no money in the system the electricity has collapsed a lot of businesses.

kwacha malawi
Guest
This is sentiments from Chakwera gurus. You cannot see any development because in your manifesto have a full of opposing spirit. Always likes NO presidents stay there? Is This hotel his. Because that is what these thieves do. A Malawi get lid of these old man before he becomes like his uncle Mugabe. to be opposition side why? If God allows your boss to be come state president who do you admire your successor? This is statement that came with full of jealousy. Nganiza Muthulika you dont have sense. You mean your grand children will not enjoy this development. Full… Read more »
Kaitano
Guest
Zombwambwanatu izi, we dont eat politics, we eat development, which development?Hotels, Roads or! hahahahahahahahahaha. Man popanda magetsi izizi sizitheka, just imagine kuti those Hotels and or the Mall we are talking here will be using Generators, how much will it be per room, and how much the price of goods like clothes with the issue of fuel? Don’t just hate kumaona kaye mwanva? Goodall Gondwe is also saying the same kuti the challenge will be fuel, lets say, we are using Generators as are the plan for the Government, dont you see kuti fuel adzakweala mtengo because adzakhala pa high… Read more »

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