The United States (US) D e p a r t m e n t of State Deputy Assistant in the Bureau of African Affairs Joy Basu has affirmed the US’ commitment to see private sector-led growth and development for Malawi.
She was speaking at the end of a visit to the country which was aimed at bolstering economic cooperation, trade, and investment.
During her visit, Basu engaged with private sector entities and government officials, and she reaffirmed the US’ commitment to foster Malawi’s economic development.
Speaking to journalists last week, Basu hailed Malawi for its drive in creating investor-friendly policy frameworks which would necessitate the desired economic growth.
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The country is focusing on agriculture, tourism, and mining among key sectors to boost productivity and commercialisation.
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According to Basu, attracting local private sector and foreign direct investment in the three sectors remains essential for Malawi’s sustainable growth.
She said her government values the partnership with Malawi in building economic growth and resilience using the various strategies deployed.
“What is important about the government’s strategy is that it focuses on making an investable climate for Malawi and particularly thinking of sectors like agriculture, tourism and mining which can bring foreign exchange into the country.
“We need to create an investable climate and draw investors in each of these sectors, particularly thinking about those investors who can be exporting for Malawi,” she said.
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She called for enhanced effort in creating an enabling environment and increased investment to benefit the population and ensure Malawi’s growth.
Commenting on structural economic challenges Malawi is facing including food insecurity, Basu said effort is deployed, with assistance from partners including the US government and its development agencies, for sustainable solutions.
She affirmed the US government’s commitment in supporting Malawi to become food secure.
“The food inflation and insecurity is heart-breaking and Malawi should not have a single hungry person. We will continue to be here and support the food fund.
“We will continue investing, in the short term, as we think about food security. But we are also here to invest in a Malawi that can feed itself, one that can attract investors and produce enough food. We need to be partners, both for long and short terms,” she said.
