Mutharika in London for investment summit
President Peter Mutharika on Sunday evening arrived in London for the Global African Investment Summit slated for December 1-2, 2015.
The Global African Investment Summit will attract over 1,000 qualified global investors, including family offices, sovereign wealth funds, international DFIs, ultra high net worth individuals and pension funds.
This year’s two-day programme addresses the theme ‘Transforming African Economies for Global Competitiveness’.
Speaking from London, the minister of trade and industry Joseph Mwanamvekha said the forum will provide an opportunity for the country to present successful stories to potential prospects from across the globe at once.
“We will focus much on agribusiness, ICT, infrastructure, natural resources, mining and power. These sectors we have identified have potential for driving socio-economic growth and inclusive development,” said Mwanamvekha.
Malawi’s stable economic and political climate provides an enabling environment for private sector investment leading to sustainable and inclusive growth.
Malawi’s real GDP growth is projected to accelerate to 6.2% in 2015.
Clement 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.
Follow and Subscribe Nyasa TV :
Please tell the investors what is in store for them:
1. Unreliable electricity
2. Unreliable water supply
3. Poor health care
4. Poor security
5. High bank rending/interest rates
6. Declining currency
7. Poor infrastructure
8. High transport costs
9. Poor Governance
10. High rate of corruption
I support the “Agribusiness” concept and endeavour to believe that you won’t let it rot on shelves!
Why are Malawians self-hating. You are always talking your country down. Remember all developed countries were once underdeveloped.
If they had A self deprecating and pessimistic attitude they would never have developed. Our friends in the West commonly say reality is created.
The Bible says the power of life and death is in your tongue. If you speak negativity you create negativity. Let us be positive sometimes. Munthu ozionera m’botolo samatukuka.
Yes I am a patriotic citizen. I need to stand behind and support my country even in times of tribulation like these. But it is not patriotism to be in denial. Somehow this administration believes that investors are not informed, that they get first hand information from the government only. Their strategy mirrors what they have at home where illiteracy rates are high. In their minds investors are not aware of electricity problems ( so shiii, dont talk about them), of runaway inflation (shiii), of a wayward exchange rate, of lack of skilled middle level technical staff, etc. Just tell… Read more »
A Chaponda kumuyang’anitsitsa msungwana choncho. Zomwezi mpaka nyere kikikiki
investors without electricity????? koma bwampini uyu sadzatheka!!!!!!!!!!!!!!!!!!!!!
LOAD SHADING will chase them away, unless we fix this first.
Take Note, no investor can come to Malawi, where inflation is the highest in the world, and the currency is the worst investors will lose money here , just come back to malawi and save forex.