Malawi President Urges Local Investment to Boost National Development Goals
As Malawi continues to grapple with economic challenges, Chakwera's emphasis on local investment signals a push for sustainable, domestically-driven development strategies.
MANGOCHI, Malawi— President Lazarus Chakwera called on Malawians to lead investment efforts across all sectors to help achieve the country's development goals during a visit to the Cement Products Limited Njereza Plant in Mangochi district, writes AfricaBrief Correspondent.
"There is a great need for investment across all sectors of development," Chakwera said. "Local Malawians should be the first to invest to facilitate the country's progress."
The president commended Cement Products Limited for its significant investment in the mining sector, emphasizing its contribution to Malawi's growth.
He also recognized the resilience of tourism companies like Rosalyn Beach Hotel, which continue to operate despite challenges posed by high water levels in Lake Malawi.
Chakwera stressed that a prosperous Malawi is achievable if investors collaborate with the government on substantial investments in the country.
His call for increased local investment comes as the nation seeks to boost economic growth and reduce dependency on foreign aid.
The visit to the cement plant in Senior Chief Mponda's area underscores the government's focus on promoting domestic industry and resource development.
It also highlights the administration's efforts to engage with private sector players in key economic sectors.
As Malawi continues to grapple with economic challenges, Chakwera's emphasis on local investment signals a push for sustainable, domestically-driven development strategies.