Minister of Industry and Trade Joseph Mwanamvekha says 26 companies are ready to invest in various sectors of the economy following the successful conclusion of a series of meetings he undertook in London, United Kingdom.
Officials from the Malawi Investment and Trade Centre (MITC), Ministry of Trade and chief executive officer for MITC , Clement Kumbemba, accompanied Mwanamvekha to London where they met 25 investors from the UK, Germany, the USA, Singapore, Latin America and China to interest them to invest in the country.
Speaking in Lilongwe on Monday, Mwanamvekha said the mission of the trip was to understand investor requirements ahead of The Global African Investment Summit (TGAIS) to be held in London from December 1 to 2 2015, where President Peter Mutharika, will also date potential investors.
Said Mwanamvekha: “Investors have shown an overwhelming expression of interest in Malawi across key industry sectors that have been identified as having potential for driving socio-economic growth and inclusive development.”
He said Malawi is wooing investors in sectors such as infrastructure, agro-business, agriculture, mining, information, communication and technology (ICT) and energy.
“We look forward to welcoming these investors to Malawi to present their proposals to the technical ministries in September 2015,” he said.
The minister said they told the investors that Malawi’s stable economic and political climate provides an enabling environment for private sector investment that can lead to sustainable and inclusive growth.
In his remarks, Kumbemba said Malawi has the political will from the President to ensure that investments are safe and investors get above-average investment returns because of a strong and hard-working labour force.
“Malawi has 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 few African countries that has never had a civil war.” Kumbemba said. The London investor meetings were facilitated by TGAIS.