Mutharika woos US investors to Malawi
Malawi and Africa as whole remain potential destinations for investment because they still possess abundant resources for production, Malawi’s President Prof. Arthur Peter Mutharika has said.
President Mutharika made the remarks at Morgan Library and Museum in New York during a fundraising event organized by a Lilongwe-based Miracle for Africa Foundation.
“Investing in Malawi and the whole of Africa is very attractive. While world investment returns are about eight percent, Africa boasts of 30 percent investment returns because of the availability of resources,” Mutharika said.
The president called on the international business community to become part of a successful investment narrative by bringing their financial resources to Malawi.
President Mutharika encouraged investors to consider spreading the net of their investment beyond the health sector by accommodating other sectors like agriculture and education.
He promised to create a health and ideal environment for investment.
“My government will make investment in Malawi attractive through provision of safety and security for people’s lives and their property,” Mutharika said.
The President commended Miracle for Africa Foundation for its initiatives in complementing Malawi’s national development agenda.
A number of corporate moguls based in New York graced the fundraising event which was aimed at mobilizing resources for the construction of a state-of-the-art Library at Daeyang Luke Nursing College in Lilongwe.
The college is owned by Miracle for Africa Foundation.
Chairperson and founder for the foundation You Keun Chung said his organization would continue to support government in addressing challenges in the health sector.
“Our major focus is reducing the high doctor – patient ratio,” Chung said.
Apart from focusing on the library project, the foundation intends to raise about MK3 billion for investments in all critical sectors of development in Malawi.Follow and Subscribe Nyasa TV :
For years now we have heard of our leaders engaging foreign investors to come and invest in Malawi. I wonder if such engagement is bearing fruit. Which investors have come because of these efforts our political leaders do? What I see is just the proliferation of the Chinese people coming to do retail business in Malawi. Perhaps its time we take stock of what is not right for foreign investment in Malawi. For sure there are two clearly known issues, the Power insufficiency and the tax regime in Malawi. Unless we improve on power generation we wont be able to… Read more »
Mr Ibu siyani kulota no investor can come and invest in Malawi a country known for frequent black outs. zachamba eti????
Yes but we need continuous electricity, advanced hospitals equipped with professional Doctors, improved infrastructure mainly double lane streets, clean cities, security, conditions that will balance the benefits both to an investor and host country ( thus minus tax holiday).
Previous Presidents tried the same song but failed to woe many investors because what can attract investor in the absence of all these?