Malawi Courts Investors to Revamp Agricultural Sector
The weeklong promotional drive will highlight potential in agriculture as well as the tourism and mining industries.
LILONGWE, Malawi— Malawi launched an "Agriculture Tourism and Mining Promotion Week" on Monday, kicking off with an investment conference aimed at transforming the country's economic fortunes through its key sectors, writes Winston Mwale.
The Agriculture Investment Conference, hosted in Lilongwe, has brought together farmers, policymakers, investors, innovators and financiers to deepen collaboration and forge new partnerships in the agricultural industry.
"This is a deliberate initiative my administration is undertaking to get quick investment wins in the key sectors with huge potential to turn around our fortunes as a country," President Lazarus Chakwera said in remarks at the opening of the conference.
He said the event is "facilitating sharing of insights, sealing of deals, availing of resources, and collaboration of stakeholders with mutual interests in the sector."
Agriculture remains Malawi's economic backbone, accounting for about 30% of GDP and 80% of export revenues.
But the sector has stagnated in recent years, held back by drought, low productivity and lack of investment.
"Successful implementation of the Malawi Vision 2063 agenda relies upon transformative investments in the agriculture sector in a bid to create jobs and wealth across the value chain," Chakwera said.
The weeklong promotional drive will highlight potential in agriculture as well as the tourism and mining industries.
The government aims to catalyze development through increased foreign direct investment.
Opposition parties have raised concerns about a lack of transparency around investment deals. But authorities insist proper oversight is in place.