LILONGWE-(MaraviPost)-Minister of Trade and Industry Mark Katsonga Phiri on Friday, October 1, 2022 had time to unbundle Malawi’s Investment opportunity areas to United Nations Capital Development Fund (UNCDF).
The meeting was organised by the embassy of Malawi and permanent representative to the United Nations with the aim of highlighting milestones Malawi has gained so far and challenges that hinder social economic development of the country.
Top on the agenda was energy production investments that the meeting said has potential to sustain energy supply including clean and alternative energy.
Minister Katsonga put the meeting to light that Lake Malawi has in the south the Shire River that flows into Zambezi river, natural resources that are critical for multi-sectoral products including hydropower energy as well as irrigated food production.
“I have learnt that UNCDF facilitates access to green bonds and blue bonds that finance a combination of green and social projects. We would like Malawi and its neighboring countries to access these green bonds so that we build resilience to climate shocks and build adaptation and productive capacity for our local communities that are continuously at risk of climate shocks.
“My Ministry, being the focal point for investments in Malawi, it is important that I understand the investment opportunities that the country can have an access to, nationally and internationally,” Katsonga added.
Katsonga said agriculture and agro-processing, is one of the three main pillars that Malawians want by 2063 hence the need to advance entrepreneurship, investment promotion, private sector development, export promotion, and introducing Local climate adaptation measures for Malawi’s attainment of the dream.
“As was presented at the UNCDF Annual Investment Forum that focused on ‘Capital Pathways for Frontier Economies’; Malawi has the following investment opportunity areas: Agriculture and Agro-processing Energy, Manufacturing, Tourism Infrastructural Development and Mining. These are Export-oriented investments,” he added.
In her remarks, UNCDF Executive Secretary Preetie Signah said was impressed with Malawi’s commitment on investments for structural transformations in areas of Digital Economy, Energy, Agriculture, Education, Health, and Mining. She said time is now to woe investors to come and partner with the Government to achieve Malawi’s vision of self-reliance.
“UNCDF and UNDP are already linking the Government of Malawi to investors through the ‘Build Malawi Fund and there is hope that things will turn better in Malawi soon and we are committed to working with the Malawi Government in initiating new interventions aimed at capacitating the private sector,” she added.
During the meeting Katsonga, also revealed ministry of Finance & Economic Planning & Development; Ministry of Agriculture, Ministry of Energy, Ministry of Natural Resources and Climate Change as some of the potential partners with the ministry of trade and Industry that if join hands with Development Partners like EU, UNDP, UNCDF, Africa Development Bank, FAO and Green Climate Fund (GCF), can help attain the Malawi 2063.
