Malawi concludes successful trade, investment talks in London -Mwanamvekha

Key officials from the government of Malawi, including the Minister of Trade and Industry, Joseph Mwanamvekha and Clement Andrew Kumbemba, CEO of the Malawi Investment and Trade Center travelled to London this week for a series of meetings with over 25 interested investors from the UK, Germany, United States, Singapore, Latin America and China, amongst others.

Mwanamvekha: Successful talks

Mwanamvekha: Successful talks

Kumbemba: Successful talks

Kumbemba:  Malawi offers what investors want

Speaking in London, Minister Mwanamvekha said the mission of this trip was to understand investor requirements ahead of The Global African Investment Summit (TGAIS) that will be held in London on the 1 – 2 December 2015, where Malawi President Peter Mutharika, will present to potential investors.

“Foreign Investors have shown an overwhelming expression of interest in Malawi across key industry sectors that been identified by the government of Malawi as having potential for driving socio-economic growth and inclusive development. These sectors include infrastructure, agro-business, agriculture, mining, ICT and importantly power.

“We look forward to welcoming these investors to Malawi to present their Heads of Agreements to the technical Ministries in September 2015,” said Minister Mwanamvekha.

Malawi’s stable economic and political climate provides an enabling environment for private sector investment leading to sustainable and inclusive growth.

The country’s real GDP growth is projected to accelerate to 6.2% in 2015.

Kumbemba, CEO of the Malawi Investment and Trade Centre said :“Malawi offers what investors want – the political will from the President to ensure investments are safe, above-average investment returns, a strong and hard-working labour force, a rich natural and mineral resource base and unexploited mineral deposits, a well-enforced legal system that is based on English law and importantly political stability, Malawi is one of the very few African countries that has never had a civil war.”

The London investor meetings were facilitated by The Global African Investment Summit as part of its initiatives to bring together investors and African governments to present their investment projects.

“The government of Malawi’s efforts to uplift the country and its citizens by understanding investor’s needs and how they can best meet those needs is highly commendable,” said Paul Sinclair, head of TGAIS.

Malawi is a signatory of the International Convention for Settlement of Investment Disputes (ICSID) and Multilateral Investment Guarantee Agency (MIGA), a World Bank institution.

The country is party to a number of regional and international trade agreements that have proved to be enormous benefits to new and existing investors. One of the attractions of Malawi is the freedom of entry and exit in terms of investment in the country.

The government of Malawi does not impose restrictions on the ownership or location of investment and welcomes FDI in all sectors of the economy except for those that may pose a danger to health, the environment or the security of the nation.

Foreign exchange operations in Malawi are governed by the Exchange Control Act. Investors are permitted full remittance of dividends, investments capital on repatriation, interest and principal payments for approved international loans.

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24 thoughts on “Malawi concludes successful trade, investment talks in London -Mwanamvekha”

  1. Chikadzakowani says:

    This DPP government will get to 2019 with very little to show for its ‘efforts’ primarily because it makes the wrong assumptions and then goes ahead to address those assumptions. For example on FDI the assumption is that investors do not know about Malawi, therefore they have to be summoned to a symposium or hunted down in London. The reason we have low FDI may actually be very simple – who would want to invest in a country where even a simple thing like getting a driving licence is such a difficult thing? Hardly anything is simple or gets done on time in Malawi…

    It was the same thing with the much touted community technical colleges: The assumption was that there are few artisans in the rural areas. The truth could be that those few who have already been trained do not have adequate support to open up businesses…no census was carried out to find the number of artisans who are just loafing in the rural areas

  2. Boyd Kilembey says:

    Empty talk as usual. We like celebrating the future with no tangible implementation. Malawi is a country of jokers and talkers. Full stop. Malawi is a failed country. Now look at the MITC Logo, it looks scary. Who designed such a scary emblem?

  3. Nganga says:

    Kodi a Malawi timafunikanso kupanga invest?

  4. Zangazatha says:

    too much talk, too little action. Mxi

  5. Khamani!! says:

    Posture yokhayo!! Mmxxii .. Kumakhala fit , go to the gym for a clear mind and healthy body …

  6. Sapitwa says:

    Good efforts for targeting foreigners. I sometimes wonder why for over 50 years of Independence, Malawi still struggles to woe Foriegn Investment. We only focused on Agriculture and wrongly on Tobacco.
    There is potential on Tourism. Many people like Travelling a lot nowadays. If only Malawi could put too much effor and tap into this, we could have been somewhere after 50 years of Independence.
    We are also not really tapping much on Agricultural fortunes that we have. There is just a potential market on every commodity in the US.
    May be we should focus our priorities right first eg Electricity first, mining later in that order…. X

  7. angoni apaphata says:

    Have you told the investors that we have armed robbers in this country who are always on bail? Kapena adzaziona akabwera?

  8. Pata phiri says:

    A big booooolshit who will invest in a country local banks r running the reserve bank.
    Imagine within 3 weeks dollar from 450 to 550 which stupid people will invest in malawi

  9. Anadimba says:

    Chinanchina Anduna mukuyera.mukudzola ambi ngati mzimayi,zitoyenda ku dpp ko .akazi.amuna,onse ophoda.mundikwatire bwana.

  10. matako says:

    You continue to plunder our resources and brag that there has never been a civil war. If you continue the way you are going there will be no investors coming here. Civil war can start any time especially with stupid greedy and nepotistic leaders like Muthalika. Right now there is no security in this country . Be prepared to answer some tough questions when you come to London. We hope there will be journalist not like the ones you have been coaching who will pause some hard serious questions to this corrupt clueless puppet president.

  11. Wabodza says:

    LIES, LIES & LIES
    Who can come to invest in an insecure country?
    Where Kwacha is depreciating every second?
    Where Forex is only 1 week cover?
    Where gouvernment doesn’t know where they will get money to pay 180,000 Civil Slaves.
    And where Petrol and Diesel will become scares?

    Who???

  12. Justin Muhayimana says:

    How to Attract Investors for Dummies

    1. Stable and growing economy
    2. Reliable and stable electrical power supply system
    3. Safety and security
    4. Good transport infrastructures including roads and rail
    5. Good airports that can handle large international flights
    6. Good telecommunication systems that including highspeed internet connection
    7. Reasonable taxation rules and lower costs of telecommunications
    8. Corruption-free business practices
    9. Industry-focus trained graduates

    If we have really met all the above then we are good to go else it is the biggest joke in town to say we convinced investors!

  13. Alufeyo says:

    Hahaha zamachende basi. Who in his normal senses can invest in this country? Even Zimbabwe can do better. Mwanamvekha could you for once be open and honest. You dont have what it takes to bring any investment into this God forsaken country.

  14. Chinthumwananga says:

    This is very commendable, however, Govt must tame the depreciation very urgently.

  15. belekiya says:

    Palibe nkhani apa

  16. Bob says:

    Easier said than done. Sweep your carpet then visitors will enter. Malawi is not poor as it is all it needs is committed leadership and good tapping of its resources i.e. Minerals, human, agriculture, fisheries etc. We will be somewhere soonere than expected.

  17. Phaghlani Vwavwa says:

    it is not true that Malawi is a peaceful country. Peace does not mean absence of war, Mandela used to say. There is a silent war in Malawi that is retarding development and we all know it. Just a surname of a person is enough to discriminate against a person or provide an opportunity. There are policies designed to marginalize some people just because of where they come from. Some are jobless, not because they are unqualified, but, because they either have a wrong name or come from a wrong place. You cannot call that a peaceful country.

  18. MALOPA Jnr says:

    Same old stories nyopa. Kumbemba claimed un justified salary increments, allowance arrears, telephone charges wen MIPA was rebrandind to MITC, ACB institute investigations. See my name

  19. Titha Phiri says:

    What exactly does Malawi offer that investors need?
    Stable electrical power supply?
    Good transport infrastructures?
    State-of-art. airports?
    Lower capital investiment taxes?
    Safety and security?
    Lower costs of telecommunication media inclusing internet?
    Lower taxes on IT technology infrastructures and mechanisms?
    Bribes-free business transactions?

    If all the above are true then all well and good. Otherwise, this is the biggest joke in town!

    I rest my case

  20. pablo says:

    what are your measres or yardsticks for success? signed agreements? or just empty promises? or a good dinner with free fod and drinks?

  21. papi says:

    Kkkkkkkkkkkkkk furbricated lie

  22. makito says:

    Some of us are familiar with the way government, nay Malawi Government, works. The work that Mwanamveka is doing is commendable, keep it up. But if government is working the way I know it, the only benefit is that Mwanamveka and the team have had a chance to go and spend some pounds from our meagre coffers in the UK.

    Secondly, lets be strategic: it seems we are already bent on the race to the bottom path. With this capital flight how can you have zero restrictions with regard to opening and closure of investments and repatriation of funds? We have been through this route before. When MIPA wanted to attract investment, all restrictions were removed, including repatriation of dividends and profits and recruitment of expatriates. We are not better than before.

    Ethiopia has a lot of restrictions, but we cannot compare with them when it comes to foreign investment. What do we want as a country? What are our priority areas? Can we focus on those areas? UNCTAD has shown that the ease of doing business matters less compared to natural resources. Why is it, for God’s sake, that our tobacco fetches more across the borders when smuggled?

    I would like to really urge this government to try very hard, I know it will be difficult for them, to have a sober mind and separate politics from genuine efforts to develop this country. If the aim is to go round waving 1 billion dollar potential investment deal even before negotiations start, then we can as well forget about anything tangible resulting from these efforts.

    I really want Malawi to develop, starting with this DPP leadership, but that will only happen if there is political will at the top to drive a genuine, non political drive to developing the country. If we go the route of the village vocational schools, we are doomed.

    I can only wish someone out there, in the DPP circles, had ears to hear.

  23. chimwemwe says:

    who can invest in a country where the kwacha is deprecaiting so rapidly , first have a stable currency not depreciating everyday

  24. chechipapwiche says:

    whom are you cheating and for how long will you do this?

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