Investment and Export Bill to reduce effort duplication

Merging of Malawi Export Promotion Council (MEPC) and Malawi Investment Promotion Agency (MIPA) would help reduce duplication of efforts and improve efficiency, Minister of Energy and Mining Dr. Cassim Chilumpha has said.

He was speaking in parliament when he presented to the house the Investment and Export Bill which was later passed.

“The Bill repeals the Export Promotion Council Act and Investment Promotion Act and transfers the mandate and functions of the Export Promotion Council and the Malawi Investment and Trade Centre Limited which was incorporated under the Companies Act on 2nd December, 2010, for this purpose,” reads the bill.

Msiska: To boost socio-economic developmenht

Both government and opposition MPs supported the bill saying it would help local investors compete at international markets.

While supporting the bill, some MPs however, said there was need for government to control foreign investors to stop engaging in business which Malawians could manage to do.

They also urged government to make sure the merging process did not take long and that a lot of people should not lose their jobs.

Deputy Minister of Economic Planning and Development, Khwauli Msiska said the bill would help boost the socio-economic development of the country considering that the country’s economy was agro based.

“Considering that the country’s economy is agro based, the bill will provide back up support to farmers so that their farm produce find its way out to the international markets,” said Msiska.

Former Minister for Trade and Industry, Shadreck Jonasi who did not say whether he supported the bill or not just said the DPP government made efforts in capitalization of businesses in the country and that establishment of Public Private Partnerships in conjunction with the Malawi Confederation of Chambers Commerce and Industry (MCCCI) were some of the works that were done before the export bill was taken to parliament for debate.

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