Malawi Govt Urge Local Firms To Make Joint Ventures With Foreign Investors

The first ever ‘Malawi Investment Forum’ offers great opportunity to local companies, but they have to foster partnerships with foreign investors first.

Begining this Monday to Tuesday, Malawi is hosting investment forum where participants drawn from across the world with intent to invest in the country.

Over 230 local companies have confirmed their participation to the Forum as of Saturday, where among them includes 70 Small and Medium Enterprises (SMEs). The SMEs will attend the forum and have their products and services exhibited outside the Bingu Internatioal conference hall. Malawi had planned to invite 30 SMEs but has raised the number to 70.

"As Malawi, and as Ministry of Industry and Trade we are encouraging partnership between private sector" says Minister of Industry and Trade Hon. Joseph Mwanamvekha

"We would have wanted that investment in every investment coming in Malawi, also Malawians should participate. Companies from Malawi individuals from Malawi they need to participate because that is how we can develop” he emphasized

“But, if it is only foreign investors then when the profit is made most of it will go out. However, if Malawians participate it means part of it will remain in Malawi.” he said

Mwanamvekha then appealed "Partnerships or joint ventures are important. And I would kindly request Malawian companies to take advantage of this forum.”

"Partnerships are key because this country can only develop if Malawians own the companies, if they own the companies then it means the economic empowerment is taking place.” he said, "And there will be very little externalization of dividends to outside, that is why am encourage them to take advantage of the forum and meet other investors that are coming so that they form joint partnerships and joint ventures.”

The two day conference, is to show case seven opportunity areas in the seven sectors of Mining, Agriculture and Agro-processing, Energy, manufacturing, Infrastructure, Tourism and Financial Services. The country expects to generate prospective investment of up to US $16 billion which is K7.2 trillion.