President Peter Mutharika has said Malawi needs a lean public sector and a bigger and more robust private sector capable of driving the economy effectively.
The President said this during a groundbreaking ceremony for the construction of the Lilongwe Grand Business Park and five-star hotel along the Lilongwe West Bypass Road.
Mutharika (L) lays the foundation stone of the projectHe said it is difficult for the Malawi economy to grow when the private sector is narrow.
Said Mutharika: “The country has been creating too many youths without jobs because the private sector is small. I want to see a Malawi where every graduate gets a job or is self-employed after graduation. We will continue developing youth skills because by developing youth skills, jobs can be created.”
The Lilongwe Grand Business Park project is expected to directly create 1 500 jobs and 2 500 indirect jobs. It is estimated to cost $100 million (about K73. 5 billion).
The President said when completed, Malawians who travel to China for shopping will no longer have to as China will have come to Malawi through a shopping mall at the complex.
Executive chairperson for the China-Lilongwe Grand Holding Corporation Limited, Zhangjiang Ma, commended the Malawi Government for the support it rendered to the company in acquiring land and other trade certificates.
Chinese Ambassador Shi-Ting Wang said the project can help to upgrade Malawi’s service industry.
The project is one of the outcomes of the first-ever Malawi Investment Forum which Malawi Hosted in 2015. The park is located in Area 46 and will comprise a shopping complex, office building, villas with supporting facilities, a five-star hotel and a conference centre.