Chilima makes case for Malawi at Korea Summit

Vice-President Saulos Chilima says Malawi aspires to undergo a profound transformation to emerge as an inclusive, prosperous and a self-reliant industrialised upper-middle-income nation by 2063.

He made the remarks on Wednesday in Seoul, South Korea during the inaugural Korea-Africa Business Summit aimed at sharing ideas and invite Korean business captains to invest in Africa.

Said Chilima: “The central strategy to this vision is our acknowledgment of Malawi’s abundant natural resources, rich cultural heritage, and the vibrant energy of our youthful population, comprising 80 percent of the population.”

The Veep, who led the Malawi delegation and represented President Lazarus Chakwera at the summit, further said the remarkable journey of the Republic of Korea, transcending from a developing country in the 1960s to a post-industrial global leader, with high-tech industries today, serves as a beacon of inspiration to many African countries.

He said Malawi recognises that strategic policies emphasising on exports, investment in human capital and fostering innovation and technology have been instrumental in Korea’s phenomenal national development.

Said Chilima: “The Government of Malawi extends heartfelt appreciation to the Government of Korea for its commitment to share these invaluable experiences with African nations, including Malawi.

“Such collaboration holds the promise of forging a future marked by shared prosperity, sustainability, and solidarity, where nations can collectively chart a path towards progress and mutual success.”

In his opening remarks of the summit, South Korea President Yoon Suk Yeol said vowed to support Africa’s efforts towards regional economic integration through the African Continental Free Trade Area launched in 2019.

On the sidelines of the summit, Chilima also held discussions with former United Nations secretary general Ban Ki-moon, who now chairs the Global Green Growth Institute lobbying them to open an office in Malawi, which they have accepted.

He also met Green Climate Fund executive director Malfada Duerte to follow up on financial commitments they made to Malawi.

“The good news is that the Green Climate Fund will be unlocking the first funds in the next 45 days. Therefore, in sum, we came and made our case as Malawi,” said Chilima.