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Tuesday, June 06, 2006

Saudi investors eye Malawi

June 6, 2006,
By ANDnetwork .com
The son to late Saudi Arabian King Prince Alwaheed Bin Talal Bin Abdulaziz-Saudi paid a brief state visit to Malawi over the weekend to investigate potential projects the business community from his oil rich country could venture into.

The Saudi Arabian prince and his entourage arrived at Kamuzu International Airport by a private Boeing 737 aircraft at about 14:30 and was welcomed by Malawi's Finance Minister Goodall Gondwe on behalf of President Bingu wa Mutharika.

The prince and his 36-member delegation, mostly comprising the business community and journalists, visited the office of the president and cabinet and Capital Hill before proceeding to the New State House to meet Mutharika for talks on the country’s investment climate.

“I have discussed with President Mutharika business opportunity investment climate favourable and useful to attract foreign investors to come to Malawi to start businesses,” said the prince, adding: “We have promised the president that we will study the projects that will attract business people from my country to come to Malawi to invest".

The Saudi Arabian prince refused to mention projects the business people from his country could invest in saying the projects need to be evaluated first.

“I have all members of the investment committees I formed to invest in Africa and in this case, Malawi. We need to evaluate the projects and come back to OPC in a very short time,” he said.

Information and Tourism Minister Patricia Kaliati told the Malawi News Agency (Mana) in an interview that the two leaders also discussed the Shire-Zambezi Waterway Project and construction of a five-star hotel and conference centres in Lilongwe.

“These are some of the projects President Mutharika told His Royal Highness the Prince of Saudi Arabia,” said Kaliati, adding that the prince has pledged to assist Malawi in many areas.

“What they are looking forward to is to come and invest in Malawi. Government would grant them security,” said Kaliati.

She said government has on her part pledged to provide tight security to the investors to ensure safety of their products.

Nation Online

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