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 :