Lilongwe, June 29, 2015: President Professor Peter Mutharika on Monday emphasized on the role that the private sector plays in the development of a country.
Mutharika who was speaking in Lilongwe when he officially opened the first ever Malawi Investment Forum (MIF), said, Government believes that the private sector is a driver of economic development in Malawi.
Said Mutharika; “We believe that investments, both foreign and domestic are the engine that will develop economy of this country from a predominantly importing and consuming to a predominantly exporting and producing one.
“We believe that the private sector will bring the prosperity that our people earnestly deserve. In light of this vision, we will do our utmost to facilitate domestic and foreign investment in this country.”
According to Mutharika the country has initiated and implemented various reforms that will make the investor’s journey towards investment in Malawi easier.
“My Government will also provide security for foreign direct investments including flexibility in repatriation of profits,” he told the gathering.
The Malawi leader therefore took his time to explain some of the initiatives that his government has done so far to make sure that Malawi stands as a better place for trade
“Recently my government established a One-Stop-Service-Centre at the Malawi Investment and Trade Centre. The centre will assist you with the registration of your company, the identification of land, the processing of employment permits and other required licenses, and advise you on available incentives,” he said.
President Mutharika said Malawi has liberalized the exchange rate and will uphold this policy.
On his part Thandiwe Dumbutchena who is the High Commissioner of Zimbabwe to Malawi and the Dean of the Diplomatic Corps urged possible investors to come and invest in Malawi as it is a good and peaceful country for trade.
“Malawi is a stable and peaceful country in the Southern Region which is politically balanced, since its independence, Malawi has been conducting free and fair elections with smooth transition of power,” Dumbutchena said.
Other speakers at the function were Dr. Stergomena Tax who is the Chief Executive Secretary for Southern African Development Community (SADC), Mr. Geoffrey Oestreicher who is Country Representative for International Monetary Fund, Mr. Admassu Tadesse President and Chief Executive Officer of Preferential Trade Area (PTA) Bank among others.
The investment forum has attracted 130 investors from 31 countries across the world.
