Chilima says Malawi is a best investment place in SADC region and beyond “
Malawi Vice President Salous Chilima has described Malawi as the best destination for investment and trade in the Southern Africa Development Community SADC region and beyond and that the country has made several reforms to make the business environment conducive.
Chilima, a former business captain is in Dubai, United Arab Emirates (UAE) on official duties, representing President Lazarus Chakwera at the Dubai Expo 2020.
The Malawi Veep told investors when he addressed the Malawi National Day Saturday that some of the reforms Malawi has undertaken is the establishment of the One Stop Service Centre in the Malawi Investment and Trade Centre (MITC).
Chilima said the establishment plays a crucial role in reducing the amount of time an investor takes to start his/her business in Malawi; eases access to business permits and incentives; and facilitates access to land.
“If you are planning to invest in Malawi, MITC will support you from preparation stage until your business is established,” Chilima said.
Chilima said there is also improvements on access to land such that the Lands Act now empowers the Ministry of Lands to allocate land to the MITC for investment purposes.
“This means if you would like to invest in Malawi and you are wondering on where to find land, MITC should be one institution you should consult,” he stated.
Chilima further touted Online Visa application whereby investors no longer have to go through the hassle of applying for visas manually.
“The process has been automated to promote efficiency and relieve investors of any burdens associated with manual application.
We believe that these initiatives are crucial and provides a conducive environment for investors wishing to invest in Malawi, the Warm Heart of Africa,” he emphasized.
The Veep also noted that Malawi has in the recent past made inroads in exporting several goods to the UAE, largely tobacco, dried peas, soya beans, sesame seeds, tea and coffee.
“There are also value added products such as sugar and edible oils, that Malawi has abundant raw materials of, which can also be supplied,” he said.
Chilima said the introduction of an Emirates Airlines freighter plane which lands in Malawi will help facilitate to transport any perishable and sensitive goods to and from Malawi in a timely manner.
“The impact of this Expo will be felt by millions of people across the world, including Malawi.
“I hope you will all enjoy the stunning cultural performance that has been put together by our dancing troupe and I am looking forward to seeing you in Malawi, the Warm Heart of Africa,” he added.
According to (MITC), Malawi is eyeing to attract $400 million worth of trade and investment pledges at the on-going 2020 Dubai Expo in key areas of investment include tourism, manufacturing, agro-processing and mining.
The country is also estimated to generate trade inquiries worth $80 million at the six-month exhibition which has drawn participation from 192 countries from around the world and forms the largest global expo in recent times.
MITC is championing and coordinating Malawi’s participation at the expo and according to Assistant Public Relations Officer Nellie Mononga said the country is poised to negotiate competitive trade and investment deals at the expo.
“The main objective was to promote trade and investment opportunities and brand Malawi as a tourist destination.
“We are looking at promotion of investment and bankable projects as well as obtaining pledges,” she said.
Chilima arrived in Dubai on Wednesday night and after the Expo he is also expected to represent President Lazarus Chakwera at the COMESA Heads of State and Government summit in Egypt.
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