Site icon The Maravi Post

Mutharika says attracting foreign direct investment crucial to boost Malawi economy

Peter Mutharika

Malawi president Peter Mutharika

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.

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 to cost around MK73 billion, will be composed of a shopping complex, a high class office building and a five star hotel.

Exit mobile version