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Friday, 08 September 2017 14:16

Malawi ready for UK investors - Mussa

Written by  Sylvester Kumwenda

Mussa talks to potential investors in Britain

Lilongwe, August 7, 2017: Malawi’s aggressive reforms in infrastructure, investment and land regulatory framework have opened up the country as a competitive, attractive and suitable destination for United Kingdom (UK) and global investors in all sectors of the economy.

Industry, Trade and Tourism Minister Henry Mussa was speaking on Tuesday evening at the Commonwealth headquarters in London at the start of a series of investment, trade and tourism stakeholder’s engagement of England based investors.

The meeting was hosted by the Commonwealth Enterprise and Investment Council (CEIC) and attracted the participation of those with interests in Malawi.

According to information sourced by Malawi News Agency from Malawi’s High Commission in London, Mussa said the reforms being spearheaded by President Peter Mutharika have made Malawi’s investment sector become a goldmine.

“Malawi has embarked on regulatory reforms and infrastructure development that supports long term investments in agro-processing, energy, mining, tourism, education, health and infrastructure development.

“We are now open to support investors who could process and add value in Malawi. And to ensure that investors get connected to regional and international markets, government of Malawi has now embarked on improving airports, rail and roads,” he said.

Mussa further informed the potential investors that the country has developed a One Stop investment and trade centre which will make it easier for investors to register, apply for licenses, land and services at a single stop.

The Minister also cited improvement in areas that help to boost investment like land and energy.

“We have reforms in land laws and government is currently working on improving the energy supply for the manufacturing sector to grow so that Malawi should have a revamped and vibrant energy sector.

“What we are saying is that Malawi is now ready and open for (global) investment,” Mussa said.

He said apart from marketing Malawi, the team is find out what potential investors would want to be done in Malawi for them to come.

In his presentation to the business captains, Chief Executive Officer for the Malawi Investment and Trade Centre (MITC) Clement Kumbemba said Malawi’s economy is now registering great improvement with interest rates and inflation coming down and is expected to grow in the next year.

“For investors in the priority areas such as infrastructure, energy and agro-processing, we offer incentives from duty-free on machinery and tax holidays up to 10 percent.

“The MITC is a one stop centre that allows you even to register a company within a day and get all relevant licences within a reasonable period,” Kumbemba said.

The investors, who were drawn from energy, mining and tourism sectors, identified several areas that Malawi needs to improve.

These included direct flight to Malawi from Europe, processing of investment partnerships with government and the removal ‘frustrating’ procurement procedures.

One of the potential investors described Malawi as suitable for any business but said there is need for the country to improve awareness on what it can offer by taking tough stands like aggressive marketing.

There was also a call to develop a consistent energy and infrastructure sector and explore other means of reducing business costs like utilizing the Nacala corridor.

“Malawi should also try to stick to deadlines as most governments ignore time frames which delay projects. That way, Malawi can attract the best of UK investment,” said the investor who cannot be identified due to reporting restrictions which allowed open and frank exchange of issues between the Minister and investors.

As we went to press, Mussa was expected to later give a presentation to the Commonwealth Argosy Event and also meet various business leaders from Liverpool, Manchester and Leicester who are interested in investing in Malawi.


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