Mutharika promises strong govt, private sector partnership... launches Projects Compendium

Mutharika promises strong govt, private sector partnership

President Peter Mutharika

President Professor Arthur Peter Mutharika has finally launched Malawi Investment Projects Compendium which he promised to make it happen some two months ago.

The President launched the Compendium on Wednesday evening at Kamuzu Palace in Lilongwe during National Dialogue on Private Sector Development an interface with business community where they discussed in camera with the President on several challenges they are facing as well as outline ways to enhance good business environment.

The compendium has been formed following President Mutharika’s directive to all Ministries to put together a compendium of investment opportunities in Malawi. And the president said he is glad that the task has been done on time and has described it as a “very high quality compendium.”

“After 50 years of independence, today the Government of Malawi and the private sector are launching Malawi’s first ever Bankable Projects Compendium” he said

On the importance of engaging with the business community, President Mutharika said “Taking into account the current economic situation, there is no better time than now for Government and the private sector to share notes for the good of our beloved country Malawi.”

He promised that his government has an ear for grievances and suggestions that business communities have and can work together to find solutions.

“Today I ask you to speak freely about the challenges that you are facing in view of the investment opportunities in Malawi, as they are challenges that this nation faces as a whole. Today shall be a day where we speak with one another, rather than at each other. Today we will be speaking in year 2064” said President Mutharika

He said government continues to give high priority to developing and strengthening the capacity of the private sector to participate effectively in investment, production and trade.

He hailed the private sector for paying taxes without which the Government of Malawi would be unable to secure the health, education and safety of citizens. “Therefore, this Government is thankful for your commitment to Malawi and for the time and capital that you invest.”

The president acknowledged that private sector is engine of economic growth and poverty alleviation of Malawi and that given right conditions, it can play many critical roles including partner with government on improving welfare of the nation, and seize the export opportunities arising in non-traditional products and sectors to generate foreign exchange.

President Mutharika however said there is need for both sides to partner and deliver on their respective roles.

“This Government recognises that the private sector can only fulfil its role if the state provides the right environment for it to thrive. We have sustained a number of pro-business reforms and continue to introduce more. What we must realize is that this ‘business environment’ is a complex set of rules and institutions that can work in favour or against the interests of the people that operate within it.”

“At the moment, the business environment is undergoing an evolution. It is time for adaptation. In this regard, Government is operating on a zero-aid budget. In the same vein, I wish the private sector adopted the net-exporter drive. It is up to the existing private sector to demonstrate that there are also opportunities that can generate enough returns to overcome these constraints. The Government also believes that more of these opportunities have to be seized so that we can transform the economy of this nation.”

Mutharika promised the private sector that it will ensure that there is good environment for doing business in Malawi. He promised good governance by design and implementation of sound macro-economic policies, tighten security by giving adequate resources to security institutions, effective regulatory frameworks where certain laws that are riddled with discretion shall be reviewed and replace them with predictable provisions including providing an improved business regulatory environment.

But he urged the Private Sector to dwell on making realistic demands from Government “As an economy let us focus on the strategic direction, hence pritoritise and match actions accordingly.”