Investments by Indians account for 25 per cent of total foreign direct investment in Malawi.
Lilongwe: India has become the preferred destination for medical treatment for Malawians, due to its state-of-the-art and affordable treatment and post-treatment facilities, Vice President M Venkaiah Naidu recently.
Naidu was speaking at the India-Malawi Business Meet in Malawi’s capital on the last day of his three-nation Africa tour during which he also visited Botswana and Zimbabwe.
“Patients come to India as we have super speciality experts and it is also comparatively cheaper,” he said.
“I am happy to note that in the last few years, India has become the preferred destination for medical treatment for Malawians, due to its state-of-the-art and affordable treatment and post-treatment facilities,” Naidu said.
Naidu said he was looking forward to meeting Malawi’s president later in the day to discuss the major areas of cooperation between the two countries.
“India and Malawi share a very cordial and friendly relationship. The two countries hold identical views on many regional, international and multilateral issues. Both the countries have been engaged in trading much before formally establishing diplomatic relations,” he said.
“Malawi is a country with great potential. It is rich in natural resources like high-quality coal, rare earth materials like uranium and niobium and can become a good source of rare earth and other minerals,” he said.
The key areas with potential for two-way trade and investment engagement include mining of coal and rare earth minerals, power generation, equipment manufacturer, information and communication technology, pharmaceuticals, agriculture, food processing, auto components, medical devices, defence production, infrastructure and tourism sectors, he said.
India and Malawi have already entered into collaborative arrangements in the areas of general cooperation, agriculture and allied sectors, mineral resources development, rural development and health and medicine and small-scale enterprises, he said.
“I understand that India is supporting the establishment of the Business Incubation Centre at an approximate cost of USD 1 million and is extending support to Blantyre Water Project agreement with an outlay of USD 23.5 million,” he said.
“India is changing rapidly. The business environment is changing for the better. The archaic regulations are being dismantled. Seamless processes are being introduced,” Naidu said as he outlined the various initiatives undertaken by the Indian government.
Malawi’s Minister for Trade, Industry and Tourism Henry Missa said Indians came to Malawi in the 19th century and established themselves in commerce, trade and industry.
Investments by Indians account for 25 per cent of total foreign direct investment in Malawi, he said.