Ministry of Natural Resources, Energy and Mining Bright Msaka has assured Indian investors of stable and uninterrupted power following a number of interventions such as power sector reforms which the Malawi Government has undertaken.
Msaka was speaking in Lilongwe during this year’s Malawi India Business meet.
The Minister said Electricity Supply Corporation of Malawi (Escom) has been split into two and a new entity solely to be responsible for power generation has been created called Electricity Generation Company (Egenco).
Msaka said apart from unbundling Escom Government is also applying various measures aimed at addressing issues to do with extended blackouts that have resurfaced.
The power outages have since worsened with some parts of the country facing over 12 hours of blackouts, a situation that has crippled businesses that rely on Escom power supply.
In his speech. Minister of Industry, Trade and Tourism, Joseph Mwanamveka assured investors of government support ensuring that they are not facing hiccups in their line of doing business.
Mwanamveka said government has established a one stop centre aimed at addressing problems which investors would have been facing in jumping from one office into another.
Malawi Investment and Trade Centre Chief Executive officer Clement Kumbemba gave a presentation said Malawi remains a country which provides conducive environment in terms of business.
“It only takes 5 days to process all necessary documents to do with investment,” said Kumbemba.
Principal Secretary in the Ministry of Industry, Trade and Tourism, Cliff Chiunda said Malawi exports to India rose from US$31,740,000 in 2014 to US$67,552,000 in 2015 which represents 6.3 Percent.
Chiunda said the meeting intends to create awareness of possible transformational Investment to Malawi.
He said the forum will help to explore ways and means of attracting more Indian business and Investments into Malawi Malawi through a conducive policy and adminstrative framework.
The forum will focus on energy, agriculture, irrigation, health and manufacture.
In his speech, Indian High Commissioner to Malawi, Suresh Kumar Memon, commended the Malawi Government for the support rendered during the forum.
The High commissioner said the forum will work to the advantage of two countries ie Malawi and India.Follow and Subscribe Nyasa TV :