By Staff Writer:
President Lazarus Chakwera has stressed on the need to create a conducive business operating environment in the country to woo foreign investors.
Chakwera made the remarks at the Business Council for International Understanding meeting on Monday on the sidelines of the United Nations General Assembly in New York.
Chakwera said currently his administration has embarked on a series of administrative reforms all aimed at making the operating environment conducive for both foreign and local investors.
“We are making investments in infrastructural development, particularly in the transport sector, to modernise the roads and rehabilitate the railway in readness for the cross-boarder movements of the agricultural commodities this revolution will produce.
Additionally, we are correcting the administrative bottlenecks that have choked the energy sector for long time in order to ensure that independent power producers are able to come into the market and complement government efforts by setting up min-grids that can power communities and thus free -up the baselines energy for agricultural industrialization,” said Chakwera.
Meanwhile the Malawi leader has revealed that he will this week sign an understanding with the International Development Finance Corporation to finance the development of major power plants in the country.
The president is expected to address the United Nations General Assembly on Wednesday September 21.
