President Peter Mutharika has told a premier American organisation that Malawi, like Africa, is no longer a burden, but an opportunity for trade and investment.
The organisation—Corporate Council on Africa (CCA)— is devoted to United States of America (USA)-Africa business relations and boasts a membership of 180 companies.
Mutharika was speaking in New York on Friday to the CCA, a grouping whose membership represents nearly 85 percent of total USA private sector investments in Africa.
“The world should seize the opportunity of trade and investment in Africa. Malawi is committed to turning the country from aid dependent to trade and investment dependent nation.
“We are changing the way we do business and I hope you will take advantage of the opportunities available,” he said.
Among areas that offer huge investment potential, Mutharika cited the Green Belt Initiative, Nsanje World Inland Port Project, energy infrastructure, mining and tourism.
Besides the potential, Mutharika explained that Malawi provides an expanded market for would-be investors beyond the national borders because the country enjoys preferential access to strategic markets at regional and international levels.
He said his administration was creating a conducive climate for domestic and foreign direct investment; and trade liberalisation through strengthening the rule of law, improving legal and regulatory instruments; and instituting improvements in the telecommunications and transport infrastructure.