By Chisomo Phiri
Malawi’s servant leader Dr. Lazarus Chakwera has called on investors from across the world to make Malawi the home of their investment.
Chakwera was speaking at Bingu International Convention Centre (BICC) in Lilongwe on Tuesday where he was presiding over the Malawi Investment Forum.
The president said Malawi has plenty of opportunities in three strategic areas of Agriculture, Tourism and Mining.
He said Malawi’s foreign policy focuses on economic diplomacy and that Malawi appreciates development partners who understand and respect the focus, as opposed to those who come to the country to busy the country with priorities and agendas that are neither Malawi’s nor appropriate for any nation that is as young and underdeveloped as Malawi.
Chakwera described the Summit which was held under the theme “Addressing Barriers, Unlocking Opportunities” as the one that accords a chance to potential investors to appreciate the value that Malawi market can bring to their aspirations.
“So too with existing investors, this is the time to expand their footprint through recapitalization or new ventures.
“I have underlined to the summit the available investment opportunities in all priority sectors: Agriculture, Tourism and Mining, referred to as our ATM Strategy.
“To boost productivity in these three sectors, we have been reviewing the policy, legislative, and administrative framework to create a favourable environment for our development agenda.
“It is for this reason that our embassy in South Africa is convening the two-day Malawi Investment Forum in Johannesburg from tomorrow,” said Chakwera.
He said such deliberate engagement platforms like Malawi Investment Forum will help the country to grow the private sector and facilitate creation of sustainable jobs for more people and transformation of household livelihoods.
Just like other global economies,Malawi desperately needs increased foreign direct investment (FDI) inflows which is a key macroeconomic variable for creating jobs, boosting domestic revenue through tax generation as well as boosting the growth of an economy through increased Gross Domestic Product (GDP).