Malawi Promise Investors Security, Favorable Environment

The Malawi Government promise to do its "utmost to facilitate domestic and foreign investments" as the country hosts first ever 'Malawi Investment Forum' (MIF) in the capital city, Lilongwe.

The Malawi President Professor Arther Peter Mutharika has assured the interested investors gathered at Bingu International Conference Centre of their security for foreign direct investments including flexibility in repatriation of profits. 

He said Government of Malawi believes that the private sector is the driver of economic development for the country. 

"We believe that investment, both foreign and domestic, is the engine that will develop the economy of this country from a predominantly importing and consuming to a predominantly exporting and producing one. We believe that the private sector will bring the prosperity that our people earnestly deserve." He told the participants drawn from over 31 countries across the globe.

Malawi leader noted that the country has initiated and implemented various reforms that will make investor journey towards investment in Malawi easier 

Among number of developments that lay ground for foreign investments he mentioned Establishment of a One-Stop-Service-Centre at the Malawi Investment and Trade Centre (MITC) that will assist investors with the registration of their company, the identification of land, the processing of employment permits and other required licenses, and advise on available incentives.

He also mentioned that Malawi has liberalised the exchange rate and will uphold this policy which resulted the Malawi Kwacha being stable over the last year and the government expects that this trend will continue for the foreseeable future.

"Malawi has upgraded the electricity generation capacity and introduced demand side management measures. Malawi's electricity supply has become increasingly reliable as generation capacity exceeds demand during off-peak hours" he said

"Further, as part of the upgrading of the transportation corridors, a rail line from Tete to the deep sea port of Nacala has been constructed. The line will provide fast access to the Indian Ocean and cut transportation costs for the import and export of products" Said President Peter Mutharika who also indicated that Malawi is a signatory of the Tripartite Free Trade Agreement, the treaty which will boost regional trade and open up investment opportunities "that seemed impossible a couple of years ago"

President Mutharika also acknowledged existence of much more to be done to improve the competitiveness of Malawi as an investment destination.

He therefore said more reforms will be carried out in number of areas include: Reform of the legal and institutional framework for land administration; Construction of an electricity interconnector with Mozambique and upgrading of the national transmission network; Introduction of National Identification Cards for all citizens and operationalisation of Credit Reference Bureaus; Review of the Seed Act and policy, with the aim of facilitating the prompt introduction of high quality seed; and reform of the Public Sector, including government ministries as well as parastatals.