The multi billion kwacha China-Africa Textile Company on Monday launched a groundbreaking ceremony for textile factories in Malawi. President Arthur Peter Mutharika present on this occasion said that its is a significant step towards turning Malawi into a major textile exporter in Africa which will greatly promote its industrialization drive.
Their government is focused on turning the country from a predominately importing to an exporting country as in their campaign promises, and the China-Africa Textile Company is one such project.
China-Malawi Cotton Company builds the factories in Malawi's central Salima district, about 93 km from the capital Lilongwe, with an investment of 44.2 million U.S. dollars in the first phase and a further 36 million dollars in the second phase.
With this project Malawi will produce various textile products for export to countries such as the United States, India, other African countries, and China itself. It will help the country to increase its forex earnings.
This is a dream come true for Malawi to become a producing country instead of a consuming country. With the factories, the country could export textile products to regional and international markets.
The Malawian government has created a favorable environment for foreign investment, he added.
Chinese Ambassador to Malawi Wang Shiting said that the project signifies the growing cooperation between the two countries. China is a sincere friend of Africa and they are committed to developing Africa.
Chairperson of Africa Textile, Ju Wenbin, said that the project comprises a full-fledged cotton spinning factory, a weaving mill and a towel factory.
The first phase of the project will be completed in June next year and 1,500 local people will be employed and bring foreign revenue of about $36 million per year.
Joseph Mwanamveka, Minister of Agriculture and Water Development said that apart from creating jobs, the textile factory will help to boost the growth of the cotton industry which has been going down in the past few years.
Government has taken strides towards reenergizing the cotton industry, and this factory will help a lot as it will be a big market for cotton farmers. The factory will require up to 100 metric tons of cotton per year, which is already more than what the farmers are producing.
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