Malawi President woos Chinese investors

Malawi President Peter Mutharika on Tuesday urged Chinese investors to venture into various enterprises in Malawi to help promote the country's agenda of increasing exports.

Mutharika extended the invitation during the launch of Malawi-China Investment Forum held in Malawi Capital, Lilongwe, where over 300 business captains from Malawi and China's Anhui Province met to discuss business deals.

The Malawi leader described China as one of Malawi's best friends and trading partners.

"We are moving Malawi from aid to trade," said Mutharika in his keynote address. "This demands that we must be producing and exporting in several sectors."

"We are, therefore, inviting direct investment in agriculture and agro-processing, energy, mining, ICT, tourism, infrastructure and manufacturing, and many more...you have come at the right time of our history; be proud to be part of our vision."

Mutharika described Malawi as an investment haven in Southern Africa and assured the Chinese investors that they would find the country a preferable place to do their businesses.

"I encourage you to build productive partnership with the domestic private sector ... My government is set to provide security of your investment, life and property."

He added that the country had upgraded the generation and transmission of electricity which had been the main challenge affecting the industrial sector.

In his remarks, the head of the Chinese business delegation Song Weiping, said Anhui had founded 23 overseas enterprises in Africa, with actual Africa-dedicated investment of 1.2 billion U.S. dollars.

"Anhui provincial government will actively help enterprises enter Malawi," said Song. "It will also gradually guide industries towards clustering development; hence facilitate the in-depth integration between cooperation on production capacity and Malawi's development planning via strengthening the network and enhancing top-level design, strategic planning and policy guide."

Chinese Ambassador to Malawi Wang Shiting hailed the diplomatic ties between Malawi and China, and stressed that the two countries would firmly support each other in their bilateral relations, and respect the core interests of each other.

Wang described Malawi as a country with abundant natural resources, tourist attractions and pleasant weather hence, a viable place for investment.

He further observed that the development of Malawi was in high need of advanced technology, equipment and capital support, and that the two countries had so much to offer to each other. Endit