Chakwera pledges improved Investment climate

President Dr. Lazarus McCarthy Chakwera on Monday held an interface with a contingent of over 50 investors who share Pan African investment interests across a number of sectors such as energy, agro-processing, automotive, tourism, ICT, education, renewable energy, infrastructure development and finance.

The investors – travelling under the PLO Lumumba Foundation – have been drawn from African economies such as Ethiopia, Democratic Republic of Congo, Kenya, Uganda, Ghana, The Gambia, Senegal and Nigeria, as well out-of-continent economies such as the Caribbean, India and the United State of America.

Addressing the delegation, President Chakwera said the impending investments are critical because they will enhance economic productivity thereby expediting the attainment of the MW2063.

The Malawi leader expressed gratitude for their choice of Malawi as an investment destination as this is a clear expression of trust and confidence in the environment his administration is creating to make all sectors of the economy as productive as they ought to be. 

The President assured the investors of government’s total support in improving the investment climate that brings about business success for those who inject capital in various enterprises and economic benefits to the people of Malawi. 

Among the many deliberate interventions the Chakwera administration is implementing are the establishing of Special Economic Zones, operationalization of One Stop Border Posts with neighboring countries, review of land and labour laws to make them friendly for pro-growth trajectory.

In his remarks, PLO Lumumba Foundation director, Professor PLO Lumumba, said the delegation in in Malawi for they have detected the economic potential the country holds as prescribed in the Malawi2063 which aligns perfectly with the African Union Agenda2063.

Professor Lumumba also said the initiative is best positioned to spur sustainable investment on the continent, saying Africa holds the key to inward-looking investment than has been the case over the decades gone by.

“This initiative is a way of Africans liberating themselves from the chains of economic slavery.

Previously, we have been made to believe that real investors are those that come from outside the continent. But this delegation has the right firepower to bring in the investment that Malawi needs to grow its economy,” he said.

Minister of Trade Simplex Chithyola expressed hope that the visiting delegation will at the end of their tour make conclusive determinations owing to the country’s investment readiness which has been nurtured since President Chakwera took office.