A new partnership between Malawi government and Chinese firm is set to modernize Lake Malawi transport.
This follows signing of a Memorandum of Understanding by the Government of Malawi with Chinese firm Hongtai Investment Group to modernize marine transport on Lake Malawi as part of efforts to cut costs and open new trade routes.
The MoU was signed in Lilongwe by Secretary for Transport and Public Works, Bright Kumwembe, and by Managing Director of Hongtai Investment Group, Shan Jian Ping.
Speaking after the signing, Kumwembe said a stronger lake transport system would improve the movement of people and goods, boost connectivity and open up Malawi to regional and international markets.
Under the agreement, Hongtai has promised to support the modernization of Monkey Bay Shipyard, partner with Malawi Lake Services to construct modern cargo vessels, and upgrade cargo-handling equipment, warehousing and logistics systems at Chipoka Port and other key lakeshore ports.
Kumwembe added that the investment will complement road transport, reduce pressure on the road network, and unlock economic opportunities for communities along the lakeshore.
He also said that the partnership will promote land-lake intermodal transport by linking lake and road networks.
For his part, Shan Jian Ping said Hongtai would tap into its global logistics expertise and technical know-how to support Malawi in modernizing the marine sector and growing industry.
It has been noted that the partnership supports Malawi vision 2063 and the National Transport Master Plan by promoting a modern, integrated transport system to drive economic transformation.
