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Scottish Minister meets Pres. Mutharika on investment opportunities

Written by  Gladys Nthenda

State President Professor Peter Mutharika has appealed for support from the Scottish government to help in the area of investment to enable Malawi achieve sustainable economic development.

Pres. Mutharika and Scottish Minister  Yousaf Pres. Mutharika and Scottish Minister Yousaf
21
October

President Mutharika who made the appeal on Tuesday during an audience he held with the Scottish Minister for International Development Humza Yousaf, described Scotland as a major development partner to Malawi instrumental in government’s poverty eradication efforts.

The President observed that Malawi boasts unique investment opportunities for modern high tech industries which can attract investors.

 

“We know we have bauxite, gold oil, gas uranium among others. We have unique investment opportunities such as rare earth minerals for modern high technology industry.”  Mutharika noted.

 

He expressed confidence that the upcoming Investment Summit in London will help in resuscitating Malawi’s economy.

 

“We sincerely hope the upcoming Summit will attract investors from Scotland to come to Malawi as we need support in image building to attract foreign investment. Mutharika said.

 

The visiting Scottish Minister for International Development hailed the President’s personal resolve in ending child- trafficking and early marriages as evidenced by the passing of the Marriage, Divorce and Family Relations Bill.

 

Humza Yousaf cited among others renewable energy, agribusiness and aquaculture as some of the possible areas his government could cooperate with Malawi.

 

He urged Malawi to refocus on how it uses aid so that it benefits the poor.

 

“We need to explore how do we do aid better; how can we focus it be more targeted and ensure that aid is helping the poorest”. Yousaf stressed.

Yousaf pledged to woo Scottish companies to come and invest in Malawi and in boosting local entrepreneurship and in creation of local jobs and wealth.

 

He also commended the establishment of the one stop centre describing it as a good invention stressing that what needs to be done is to have discussions with UK companies to take advantage of existing investment opportunities.

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