Mutharika Tips Chinese Companies on Having Steady Financing

Malawi President Professor Arthur Peter Mutharika has tipped Chinese companies wishing to invest in Malawi to secure steady financing of their projects to ensure speedy and uninterrupted implementation of the projects.

He made the sentiments when he made audience with officials from the China Jiangxi International Economic and Technical Cooperation Co. Limited and the China Railway Construction company (CRCC) on Thursday.

Mutharika said he has observed that some companies wanting to invest in Malawi do not have financial resources of their own but instead rely on Banks to lend them money.

“The arrangement of relying on Banks to roll out projects comes with some challenges as the projects often fail to start as scheduled when the banks delay in releasing the funds,” he said.

He, however, said Malawi is ready to allow as many investors as possible because she has conducive environment for carrying out businesses.

“As a country, we ensure both fiscal and physical security of your investments because we are committed to a number of international agreements which guarantee investment promotion,” said Mutharika.

He said in Malawi, investors should be assured of safety at work, safety on their way and safety in their homes.

President of the China Jiangxi International Economic and Technical Cooperation Co. Limited, Xu Guojian acknowledged his pleasure about the Malawi market, noting that although he has never been to Malawi, he would make an effort to visit the country soon.

He assured President Mutharika of his company’s reputable exploits which it has enjoyed in 20 African and ten Asian countries.

“We are a reputable company and we enjoy cordial relationships with almost all the banks which have made us successfully implement projects in Zambia, Kenya and Botswana among others,” he said.

China Jiangxi International Economic and Technical Cooperation Co. Limited specialize in infrastructure development, water supply and sewage treatment.