Can we begin with an overview of your focus of economic and financial policy of the last five years?
I imagine that you have seen members of the cabinet and they have given you information about our policies of the last five years. After 1994, when we began living democratically, we focused ourselves on economic development. We entered into a structural adjustment program with the World Bank and the IMF. Our main policy has concentrated on poverty reduction. We believe that democracy without economic development would have no meaning to the people. It is essential that the people be empowered.
Following our research and investigation, since our arrival we have seen that tourism and infrastructure will play a key role. Over the next 5 years what will be the approach to these developments?
We have analysed the economy and looked at where there is the largest potential. We believe that tourism will play a vital role in our development. We have a beautiful lake, the climate is ideal and Malawi is the gateway to eastern and southern Africa. We are geographically well positioned in the centre of many countries and provide immense opportunity for the tourism industry of Malawi- This is why we are focusing on tourism! Our primary objective is creating the suitable Hotels necessary for tourism, at present, there are not enough. If you go to Lake Malawi, you will find that there is limited accommodation to cater for the various tourism segments. There is a new hotel being planned for Blantyre, Lilongwe and Cape Maclear.
Have you followed the tourism development policy of your neighbours in order to obtain ideas or learn from their experience in developing this sector? What strategy is planned for the necessary investment in tourism?
We cannot work alone. It is essential that we work as a region. A tourist from Europe or the United States that visits Malawi will want to see more than one country on their trip. For tourism to develop here, it seems clear that by working together regionally, we can succeed individually as well. We are a member of SADC, there is a solid co-ordination by all the tourism sectors respectively so that we can work on developing a program which is more regional than perhaps national. This way it will be more meaningful for the tourist to come to our countries. I am very positive about working together with our colleagues in the region.
Would you be able to highlight three things that make Malawi standout within the region as a tourist destination?
First of all, no tourist wants to travel to a country where there is insecurity. Security is vital to any foreign visitor. Our country is fortunately, a peaceful member of the global community. There is an outstanding beauty to this country yet to be discovered: We have mountains, rare species of birds and of course, and the lake. It has spectacular views and Clearwater bays. The people of Malawi are friendly people. We feel that when you travel to another country, you not only feel the warmth of that country but also that of the people.
In order to develop the tourism sector as the backbone of the economy, what can you tell us about the developments of infrastructure and telecommunications?
These sectors are very important and we are working hard. We have liberalised the telecommunications sector. It has been difficult as we need to improve advance our technology and have the sector working efficiently. We are also privatising electricity and opening up for bidders. Roads have to be improved and we have set up the National Roads Authority. There has been a great improvement of the roads in the last five years. Our aim is to improve the roads network, the telephone communications and electricity.
In order to develop the financial sector what has been the role of the country in promoting the export climate and attracting investment?
The only way forward is to move this country towards the manufacturing sector where we can export. If you have to rely heavily on imports, then you cannot create employment. There is now a trade bill with the US, signed on 20th may of this year encouraging exports to the US. We are looking closely at manufacturing for export.
What have been the developments of foreign exchange and what have been the incentives to control the balance of trade?
We have recently experienced the weakening of our currency, the Kwatcha, which is not necessarily due our economy per say but more to do with the fact that your economy is doing extremely well. This has affected the whole region. We need to find areas of development to strengthen our foreign exchange. | Throughout the past two years we have monitored the regions developments. Our reports are conducted between three and five years. We only do our reports when we know that there will be an impact, throughout the next years of your term, what would you like to see happen?
I want see a total transformation of the economy. Total reduction of poverty is of the highest priority. This is why we have implemented the structural adjustment program and are working closely with our co-operative partners. We are striving to reach our targets. We need to reduce inflation and interest rates in order to reach our goals.
How do we best inform the international community of the potential of the Malawian economy and why as an investor should I choose Malawi and not Zambia for example?
Political stability, economic stability and many other factors make Malawi a viable destination for investment. There is a lot of potential here. MIPA, the Malawi Investment Promotion Agency underlines all the available incentives that we are promoting. The world has become very competitive and we need to do our utmost to attract investment.
One of our main objectives that we have seen when people and the media talk about Malawi is the word "landlocked". We like to think that this is the heart of the region and want to highlight its incentives and opportunities, how best can we do this for Malawi?
We have a whole transport sector that we are working on. This will help us to be seen as cross border players. Malawi borders some interesting markets, Mozambique, Zambia and Tanzania. As our infrastructure improves we will become a stronger player. These borders will become exits.
What can you enlighten us about your present relations with the United States and Europe?
The US has traditionally been our partner. I can only say that since independence we have had a strong growing relationship with America. We would like to see more American people come and visit our country. I believe that Americans should come and invest here in a number of sectors. Our relationship is excellent with the European Union.
One of the things that we try to do with our reports is not only to highlight the opportunities, show the country as politically stable and in a position to attract investment but to also to talk about its image, how would you best portray this country’s image?
We are a very democratic country. Our government is credible and as we begin to grow, we will see our relationship with the international community grow.
What would you like to look back on as your most notable achievement?
I think that the road to democracy was one of the best things that ever happened. Democracy is the basis of economic development in any country. This has been my contribution to this country but I am not alone, we have and will continue to work very hard on creating solid regional integration and create investment opportunities with economic recovery.
The movement away from state controlled organisations to private sector initiative and the privatisation process. What is the privatisation climate looking like?
We will have to continue. I firmly believe that the government is not here to run business. We are there to create conditions for people to invest. Now Malawi is ready for the private sector to take over-This is why we are privatising many organisations.
How important is it for your country to convey this information to the international community, apart from medias such as Forbes, how else do you communicate the message to the right people?
People often have no idea where Malawi is, we really have to get out there and tell people who we are, where we are, and what we are doing. We have embassies around the World but also need excellent media coverage. |
