Malawi President Peter Mutharika on Thursday opened Hard to Defeat (HTD)-Abdul Majid Motor City at at Ginnery Corner in the commercial capital Blantyre with a call to Malawians and business community at large to invest in new infrastructure for their businesses.
HTD Limited is a private local Limited Liability Company incorporated in Malawi in 1993 and started constructing the new premises in 2004.
President Mutharika applauded HTD Limited for its investments in the country.
“I applaud HTD Limited for its investments in the country and let me urge you all that time has come for Malawi to increase domestic income generating capacities and savings that can enable our country to move decisively towards greater dependence on domestic resources for growth and development. Let us together create Malawi as a ‘safe haven’ for investors,” said Mutharika.
He said investors should not externalise their profits but take money outside” use it to develop Malawi as HTD has done by coming up with this magnificent structure without acquiring a loan but rather using business proceeds.”
He commended the Abdul Majid Aboobakar family which owns HTD for showing a sense of patriotism. The family has been close to government of late Bingu wa Mutharika and also that of Joyce Banda as they were prominent “well-wishers”.
“This investment is worth commending. It is worth celebrating. It moves trade in services a mile further and boosts the motor industry in the country. On this note, let me remind our local companies, including the small and medium enterprises (SMEs) that markets are becoming more competitive. It, therefore, requires production of high quality products and services to survive,” said Mutharika.
The President also called for Public Private Partnership-PPP on government’s community colleges to enable production of highly skilled youths who would provide efficient labour force.
Mutharika then assured the private sector of government’s support in creating an enabling environment for easy establishment, growth and expansion of local and foreign investments.
Speaking earlier, Minister of Trade and Industry Joseph Mwanamveka said government had stepped up efforts aimed at encouraging growth of the private sector.
“As government, we understand that the private sector is the engine and driving force for every economy as such we are committed to create a conducive investment in the country,” said Mwanamvekha.
Laywer Modecai Msisha, one of HTD Limited directors, said the company decided to invite the president to officially open the premises because he represents hope and desire for a change for the country.
Msiska commended Government for creating a conducive environment for the private sector in the country.
“HTD realises that as a private company we cannot operate effectively in the absence of befitting environment that government can create to enable companies to thrive,” said Msiska.
“Malawi is lucky to have a president who understands that a nation needs a thriving private sector to assist in revenue generation as well as job creation and for the private sector this is the time to invest,” said Msiska.
Msiska also revealed the company’s plans to build similar structures in Lilongwe and Mzuzu.
Recently, the Government of Malawi establishment a One Stop Centre at the Malawi Investment and Trade Centre-MITC in Lilongwe aimed at ensuring that many foreign conglomerates establish companies in the country.
Established on September 1 this year, will help reduce the cost and time of establishing businesses as all registration activities will be done under one roof.
The function was graced by former President Bakili Muluzi,Leader of Opposition in Parliament and president of Malawi Congress Party Dr. Lazarous Chakwera, Mayor for Blantyre City Assembly Noel Chalamanda, parliamentarians, business community, members of clergy, members of the ruling Democratic Progressive Party and Malawians of good will.
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