President Lazarus Chakwera says Malawi is at a critical stage, requiring increased investment to drive private sector growth, wealth creation and job creation.

Chakwera made the sentiments when he officially opened the Malawi-European Union Investment Forum at BICC in Lilongwe where government also signed three financing agreements with the European Union, Germany and Ireland.

The agreements are aimed at enhancing financial prudence, transforming the energy sector and accelerating agriculture commercialization among others.

Addressing the audience Chakwera said he recognizes the interest the European business delegates at the event saying that Malawi is the best destination because of political stability, rich natural resources and a series of reforms in business registration as well as land reforms which create a conducive environment for investment.

He challenged the European Union investors to explore opportunities in the mega farms initiative, tourism as well as the energy sector.