Mining & Trade News

Malawi’s President Lazarus Chakwera says his administration is committed to resuscitate the tourism sector currently on death bed due to the impact of the novel coronavirus (Covid-19) pandemic.

Chakwera said this when he officially  launched the Sogecoa Golden Peacock Hotel in Blantyre which has over 160 rooms, two restaurants, a shopping mall, a casino and conference rooms.

Sogecoa has invested an estimated K44 billion in the facility which covers an area of 1.6 hectares, with a total floor area of 22,000 square meters.

Chakwera said his administration will endeavor as much as possible to create an enabling environment for the tourism sector which has a strategic role to play in poverty eradication.

He said: “The facility will help in promoting local tourism industry, which is a critical driver of economy in the new Malawi which is currently taking its course.”

“My administration is fully committed in revamping the sector as it is resurrecting from shocks of Covid-19 pandemic, through fiscal stimulus packages.”

He explained that his administration will administer investment incentives packages that are comprehensive and accessible to both local and foreign investors to facilitate growth of the industry.

“We cannot run away from the fact that this sector caters for others such as Agriculture, Technology and Finance hence it is vital that we take good care of it for our own economic recovery and advancements,” he said.

He advised the Ministry of Tourism to conduct feasibility studies that will see development of new tourist cities in Mangochi, Salima, Karonga and Nkhatabay.

Minister of Tourism and Culture Michael Usi described the sector as an integral pillar for Malawi’s development as it offers 6.3% employment opportunities at present and it also contributes 6.7% to the country’s gross domestic product (GDP)

“Tourism is catalyst to unearth business opportunities for other sectors such as Agriculture. However due to the Covid-19 pandemic, a lot of jobs have been lost but as the pandemic situation is improving, the sector will also be revived”.

MD for the hotel group Mike Xhang said the launch of the facility is a milestone to local tourism business and job creation as over 1 thousand jobs were secured during construction works alone.

“We are in the process of developing Africa’s tourism sector, and this is one of the finest hotels in Malawi. This is the 16th hotel we have so far built in Africa with some in Madagascar, Mozambique and Zambia.”

Xhang said as Sogecoa they are committed to come up with creative and innovative solutions for developing economies.

Deputy Ambassador of Peoples Republic of China to Malawi Wang Shung Shen lauded the investment describing it as one of the major projects that Chinese investors have executed in Malawi in the recent years.

Shen said China is determined to do more in developing the Malawi economy owing to the mutual relationship existing between the two countries.

“As we are yearning for better bilateral trade, I believe more Chinese investors will come to Malawi to explore various sectors such as Agriculture and Technology to invest in.”

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