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Lesotho Holds Good Prospects For Malaysian Investors In Tourism, Diamond Industries
 
News From : DagangHalal.com (5/7/2010)

KUALA LUMPUR, July 3 (Bernama) -- An investment mission from Lesotho which was here recently to promote more trade and investment activities with Malaysia, said its tourism and diamond industry had the potential to offer good prospects for Malaysians.


Lesotho's Minister of Trade and Industry, Corporatives and Marketing, Popane Lebesa said the two industries were key contributors to their economy and that Malaysia could take advantage of the two industries as their development were still at an infancy stage.


Lesotho, which has a population of more than two million people, is a landlocked country completely surrounded by South Africa.


Lebesa said total trade between Malaysia and African countries currently accounted for only five per cent of Malaysia's international trade.


"We want to initiate trade and investment between the two countries which is currently quite negligible. Obviously there's a lot of potential to grow," he told Bernama in an interview recently.


Currently, there are only two or three companies from Lesotho present in Malaysia with education being the focus especially with the setting up of the Limkokwing Lesotho branch there.


Besides mining and tourism, Malaysian investors are encouraged to tap into the water and services industry, said Popane.


He said Lesotho could also be a springboard for Malaysia to enter other market groupings such as the Southern African Customs Union and Mercusor, which comprises Southern American countries like Paraguay, Uruguay, Argentina and Brazil.


"Africa is an awakening giant and the world has recognised its potential. They realised that there are many resources in Africa that have not been tapped for quite some time," he added.


Lebesa who was in Malaysia for the first time, led a three-day business mission as part of the country's effort to attract foreign investments into their country.


During his stay this week, he met his counterpart, Minister of International Trade and Industry Datuk Seri Mustapa Mohamed on Monday and Foreign Deputy Minister Senator A. Kohilan Pillay on Wednesday.


Meanwhile, Lesotho's Tourism Development Corporation, Investment Promotion Officer, Tserang Hatase said the country was looking at investments in developing upscale accomodation, golf estates and ski resorts.


He said tourism was a booming industry but a lack of proper accommodation and facilities deterred people from around the region visiting the country.


"Tourism always booms during our winter season as everywhere else in the continent it will be summer. We are the only African country which has winter," he said.


The country also wants investors to develop health and wellness spa in the resort, taking advantage of its high altitude environment which is suitable for such purpose.


Last year, tourist arrivals was at 400,000, with most of them from African countries, United States and Europe.


-- BERNAMA

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