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Speech of Dignitary |
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STATEMENT BY HONOURABLE HENRY MUSSA, M.P.,MINISTER OF INDUSTRY AND TRADE, REPUBLIC OF MALAWI
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组委会新闻中心
2008-9-8 15:44:00 |
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Distinguished delegates
It is a great honour for me to be here in Xiamen. This has happened because of the cordial relationship existing between our two Governments. As you are all aware, our two friendly countries established diplomatic relations on 28th December, 2007. Following this development, His Excellency Dr Bingu wa Mutharika, President of the Republic of Malawi, paid a state visit to People’s Republic of China from 24th to 30th march, 2008. During the visit, I was privileged to meet His Excellency Mr. Chen Deming, Minister of Commerce of the People’s Republic of China and held successful discussions on Trade Investment and Technical cooperation between our two countries. In addition to the discussions, His Excellency Mr. Chen Deming and I signed an agreement on Trade, Investment and Technical Cooperation on 25th March, 2008, under which the Chinese Government will assist Malawi promote Chinese private investment to Malawi and improve the capacity of our private sector support institutions in order to serve the private sector better.
Further to the to the spirit of cooperation between the two countries, on 13th May 2008, His Excellency, Gao Hucheng, Deputy Minister of Commerce of the Government of the People’s Republic of China and I signed yet another Memorandum of Understanding between our two ministries on. Under this cooperation, Chinese and Malawian business persons will be able to collaborate in various areas of mutual interest. For Malawi, our major interest is in cotton, tobacco, fertilizer and cement manufacturing, mining, infrastructure, tourism and professional services i.e. banking, insurance, as sectors which can propel this country out of poverty.
This visit will afford my delegation and I the opportunity to consolidate the economic, industrial, trade and political co-operation between the Peoples Republic of China and the Republic of Malawi.
Ladies and gentlemen the role of investment and trade cannot be overemphasized in the reduction of poverty and promotion of economic growth in my country. We would like to aggressively market Malawi to the rest of the world through investment and trade. Therefore, for purposes of this forum, I have prepared a short presentation on Malawi’s business climate and investment opportunities so that you can appreciate the value of doing business in, and with, Malawi.
Malawi is located in Southern Africa, bordered by Tanzania in the North, Zambia in the West and Mozambique in the South and South-East. Malawi has had no history of civil war.
Malawi’s population is about 13 million people. Its economy is agro-based with 40 percent of the GDP contribution coming from the agriculture sector which employs 80 percent of the largely rural labour force.
The economy is well managed, resulting in stable macroeconomic conditions. Inflation has come down to a single digit within a space of three years. The exchange rate has been relatively stable. The country is reliant largely on exports of tobacco, sugar, tea, apparel and clothing, cotton, and groundnuts and macadamia nuts. Malawi exports tobacco to this country and the business community is ready to export to China all the other products that we produce.
Malawi has access to a wider market through of the numerous bilateral and multilateral preferential trade agreements including a recent Agreement with China. Malawi also enjoys preferential access to the European Union and United States of America. In Africa, Malawi is part of the Southern African Development Community (SADC) which has a population of 200 million people and the Common Market for Eastern and Southern Africa (COMESA) which has a population of 400 million people. We are convinced that Malawi is the right country to do business with because of the following reasons:
?Political Stability;
?Economic Stability;
?Ease of doing business;
?Quality of life and
?Preferential access to markets.
In the quest to attract foreign direct investment, the following priority sectors have been identified:
(i)Agriculture and Agribusiness
Our priorities include cotton farming, cotton ginning, spinning and weaving, garments and textiles, essential oils and horticulture. In food and beverages, we welcome investors in manufacture of vegetable oils, fruitcakes, sauces and spices, soft drinks and exotic fruit juices, honey and bottled water. We also want to expand livestock production with special focus on beef and beef products, ship rearing and ancillary industries such as hides and leather.
(ii)Infrastructure
We want to attract investors in the provision of economic infrastructure under Private Public Partnerships. Potential areas of investment include urban water supply and sanitation services, energy supply and transportation.
(iii)Services
In the services investors are welcome in professional services, medical services, hospitality, information communication technology, financial services.
Incentives
Incentives offered to industry include investment allowances, indefinite loss carry forward and no duty on raw materials used in manufacturing.
Conclusion
Distinguished guests, every country has its own defining moment before a promise becomes reality. The stage is now set for the right companies from China to be part of this collaboration to create and nurture an economic hot spot in the heart of Africa in Malawi.
Ladies and Gentlemen, once again, I thank you for your attention.
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