M'SIAN FIRMS INVITED TO DEVELOP LESOTHO's "WHITE GOLD" RESOURCES

By Massita Ahmad

PUTRAJAYA, May 5 (Bernama) -- 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.

“For us in Lesotho, water is a very important resource, One that holds great
potential for investment and development,” he told a joint press conference with
Prime Minister Najib Razak.

Earlier, Najib and Mosisili had a bilateral meeting. Mosisili, on a four-day
working visit to Malaysia beginning yesterday, is accompanied by First Lady
Mathato Mosisili, two cabinet ministers and eight senior officials.

Mosisili said power generation using water or hydro power was indeed “an
area available waiting to be tapped in Lesotho.”

“It holds great potential. Currently, Lesotho only generates about 72MW
(megawatt) electricity via hydro. We need more than that for rural electricity.

Mosisili said through a study conducted, there was also great potential
using wind power to generate electricity as well.

The prime minister also said opportunities were abound for investments in
the region.

He is also inviting the Malaysian private sector to participate in other
sectors where Malaysian companies have the skills, expertise and know-how to
invest and develop.

“The scope in other economic areas is also vast and promising. The sky is
the limit as far as investment prospects are concerned for Malaysian investors,”
he said.

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.

Meanwhile, Najib urged the Malaysian private sector to invest in Lesotho's
water industry as “it is an important resource that can be translated into a
productive investment.”

“Something that I hope the Malaysian private sector would look into,” he
said.

Najib said there were two Malaysian private sector initiatives so far, one
by the Limkokwing University of Creative Technology which has set up a branch
campus in that country.

“The branch campus will be upgraded soon to include a digital centre,” he
said.

Najib said Mosisili was also engaging Iris Corp Bhd, a Malaysian company
which has a capacity to produce advanced passports and identity cards.

“This is also one area in which there can be very positive participation by
the Malaysian private sector,” he said.

On bilateral meeting, Najib said the meeting was a very useful discussion.

“I hope this visit will open up more avenues for cooperative engagement with
Leso tho,” he said.

During his visit, Mosisili will receive an Honorary Doctorate from the
Limkokwing University of Creative Technology and visit Iris Corp.

This will be Mosisili's first official visit to Malaysia despite having been
here to attend the Langkawi International Dialogue (LID) in 1997, 1999, 2002 and
2007. -