President Professor Arthur Peter Mutharika on Thursday applauded HTD Limited for its investments in the country.

Mutharika said this during the official opening of the Abdul Majid Motor City, the new premises housing the headquarters and new showroom for motor company HTD Limited at Ginnery Corner in the commercial capital Blantyre.

“I applaud HTD Limited for its investments in the country and let me urge you all that time has come for Malawi to increase domestic income generating capacities and savings that can enable our country to move decisively towards greater dependence on domestic resources for growth and development.

“Let us together create Malawi as a “safe haven” for investors”, said Mutharika.

Mutharika expressed confidence that investments such as the Abdul Majid Motor City can help to move the country forward.

“This investment is worth commending. It is worth celebrating. It moves trade in services a mile further and boosts the motor industry in the country. On this note, let me remind our local companies, including the small and medium enterprises (SMEs) that markets are becoming more competitive. It, therefore, requires production of high quality products and services to survive.

“I, therefore, would like to encourage you to strive for excellence by producing and offering high quality products and services at all levels in order for you to be competitive on these markets. Let us create new markets by interacting with both the foreign as well as local investors”, said Mutharika.

He, however urged Malawians and business community at large to invest in new infrastructure for their businesses.