President Peter Mutharika is all geared for probably some of his crucial assignments when he heads to Europe this month-end for among other events, the 24th Commonwealth Heads of Government Meeting (CHOGM) slated for November 27-29 in Malta.
Crucial because among his key events will be selling of Malawi as an investment destination for global investors attracting foreign investment in the process.
The Malawi leader is expected to lead the Malawi delegation at an investment promotion session to be held on the sidelines of CHOGM.
Since he attained the Presidency, Mutharika has prioritized foreign direct investment (FDI) as one of the key precursors of Malawi’s development.
Also a main feature on his schedule is the presentation of a key-note address on how Commonwealth countries can improve access to health services.
He will in his speech, wzero in on how Commonwealth’s diverse experience and expertise in the health sector can be harnessed to improve systems and outcomes for patients.
Malta is hosting the Commonwealth Heads of Government Meeting for a second time, having successfully done so in 2005.
The Commonwealth is a voluntary association of 53 independent states with a combined population of 2.2 billion. The association came together in 1949, after the decolonisation of the British Empire. Symbolically headed by Queen Elizabeth II, the Commonwealth includes some of the world’s largest, smallest, richest and poorest nations.
The President already disclosed that he will go to London in December for an African investment forum.
The Global African Investment Summit will attract over 1,000 qualified global investors and will be held at Central Hall, Westminister in London from December 1 to 2.
Malawi sent a delegation which included the Minister of Industry and Trade, Joseph Mwanamvekha and Clement Kumbemba, CEO of the Malawi Investment and Trade Center to London in July for a series of meetings with over 25 interested FDIs from the UK, Germany, the USA, Singapore, Latin America and China, amongst others to understand investor requirements ahead of The Global African Investment Summit .
Mutharika will be among some African Presidents who will present to potential investors.
The African summit moves beyond the conventional discussion on the need for change in Africa. Instead, the event provides a business platform, offering African governments and companies the chance to present their investment projects to a diverse audience of global businesses interested in long-term investment in Africa.
Malawi 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.
This year’s two-day summiy programme will be addressing the theme of ‘Transforming African Economies for Global Competitiveness.’ –Additional reporting by Thom Chiumia, Nyasa TimesFollow and Subscribe Nyasa TV :