Malawian President Peter Mutharika on Thursday received in audience of New Valley Tobacco Manufacturing Company bosses Mr Yehia (Chairman) and Mr Ahmed Moneim (CEO) at the Maritim Jolie Ville Royal Peninsula Hotel in Egypt.
New Valley Company will support the establishment of a tobacco processing factory in Lilongwe co-run by Egypt’s Tobacco Company and Malawi Leaf Company.
In the near future, the Industry and Trade ministers from the two countries will meet to sign a memorandum of understanding that will allow for the setup processes of the tobacco processing factory by next tobacco season.
As the processing factory the will be operational, the deal is also expected to see Malawi have another local cigarette manufacturing factory funded by New Valley Company and improve her employment situation.
According to Egypt’s ambassador to Malawi, Maher El-Adawy, Egypt’s relations with Malawi have been growing impressively and to the good benefit of the two peoples.
Also in attendance were Malawi Foreign Affairs Minister. Dr George Chaponda, Joseph Mwanamveka, Presidential aide on economy Dr Collins Magalasi and Ambassador El-Adawy.
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