May 5, 2011

Malaysian firms to develop water resources

Prime Minister of Lesotho Pakalitha Mosisili has invited Malaysian companies to develop its "white gold" industry. "In our country, we call water as "white gold". That's how we treasure water and that's how we see the use of the precious water for industrial, agriculture, domestic and export needs. "For us in Lesotho, water is a very important resource, One that holds great potential for investment and development," he furthermore said.

Mosisili had been on a four-day working visit to Malaysia. According to him, Lesotho only generated about 72MW electricity via hydro and that more needed to be done for rural electricity. Furthermore, he stressed that there was also great potential for using wind power to generate electricity as well.

As an assurance to Malaysian investors, Mosisili said the Lesotho administration would play a facilitator role for investmenst to tickle in. "We'll provide a level playing field for investments to flow in terms of joint ventures. We'll put in place necessary infrastructure development, legal framework and legal legislations," he added. (Bernama)

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