Thursday, July 18, 2024

Malawi Pres. Chakwera Commits to Enhancing Investment Environment

Chakwera with the Pan-African Investors

President Lazarus McCarthy Chakwera yesterday  engaged in a dialogue with a group of over 50 investors who collectively share an interest in Pan African investments spanning various sectors like energy, agro-processing, automotive, tourism, ICT, education, renewable energy, infrastructure development, and finance.

These investors, affiliated with the PLO Lumumba Foundation, hail from diverse economies including Ethiopia, the Democratic Republic of Congo, Kenya, Uganda, Ghana, The Gambia, Senegal, Nigeria, as well as non-African economies such as the Caribbean, India, and the United States of America.

During his address to the delegation, President Chakwera underscored the importance of these forthcoming investments in augmenting economic productivity and expediting the realization of Malawi’s MW2063 objectives.

The President expressed gratitude for Malawi being chosen as an investment destination, interpreting this decision as a reflection of trust and confidence in the favorable environment his administration is cultivating to enhance economic sectors.

President Chakwera guaranteed the investors the unwavering backing of the government in enhancing the investment climate, ensuring successful ventures for those investing capital in diverse sectors, and generating economic advantages for the Malawian population.

The Chakwera government has actively implemented measures to strengthen investment, including the establishment of Special Economic Zones, activation of One Stop Border Posts with neighboring countries, and revisions of land and labor laws to encourage a growth-oriented trajectory.

Professor PLO Lumumba, Director of the PLO Lumumba Foundation, expounded that the delegation’s presence in Malawi is rooted in their recognition of the country’s economic potential, harmonizing with the Malawi2063 vision and the broader African Union Agenda2063.

Professor Lumumba highlighted the capacity of this initiative to propel sustainable investments in Africa, challenging the notion that external investors are the sole contributors to economic growth. He positioned this endeavor as a means for Africans to liberate themselves from economic dependence and unleash Malawi’s economic potential.

Minister of Trade, Honourable Simplex Chithyola, expressed optimism that the visiting delegation will arrive at well-informed decisions, considering Malawi’s cultivated investment preparedness under President Chakwera’s leadership.

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