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.
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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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… Read more »
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?
Kodi a Malawi timafunikanso kupanga invest?
too much talk, too little action. Mxi
Posture yokhayo!! Mmxxii .. Kumakhala fit , go to the gym for a clear mind and healthy body …
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… Read more »
Have you told the investors that we have armed robbers in this country who are always on bail? Kapena adzaziona akabwera?
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
Chinanchina Anduna mukuyera.mukudzola ambi ngati mzimayi,zitoyenda ku dpp ko .akazi.amuna,onse ophoda.mundikwatire bwana.
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.