Investment package ready October—Mwanamvekha
A package of all bankable investment projects in Malawi, which President Peter Mutharika demanded on his way from the Africa-America summit, will be out mid October.
The idea behind the production of the compendium is to make it easier for prospective investors to sample what the country has to offer.
Minister of Industry and Trade Joseph Mwanamvekha confirmed on Saturday the date of the compendium’s release after his meeting in Washington DC, United States of America (USA) with the US Chamber of Commerce (USCC) officials.
“It is true that a compendium comprising projects being championed by government and private sector is being finalised and will be ready for publication by mid-October, 2014,” he said.
According to Mwanamvekha, once out, the compendium will be up-loaded on the website of Malawi Investment and Trade Centre (Mitc) and the Ministry of Industry and Trade towards the end of October 2014 for the benefit of those that may not have the chance of accessing the hard copies.
The minister also disclosed that government is in the process of establishing a national single electronic window for trade documentation as well as establishing one-stop border posts with neighbouring countries.
“This intervention is aimed at facilitating cross border trading,” he said.
The minister also disclosed that Malawi’s incentives packages are currently being reviewed to respond to private sector needs.
Mwanamvekha assured the US business captains that their investments in Malawi would be secure because the country is not only safe, but also a signatory to a number of conventions that compels it to guarantee the safety of investors.
He said Malawi is a signatory to the multilateral investment guarantee agency of the World Bank and the convention of settlement of investment disputes.
The country is also a member of Africa Trade Insurance Agency (ATI), a World Bank-supported initiative aimed at guaranteeing investment in Africa.
In addition, the minister said, Malawi’s constitution protects the rights of investors.
“Let me assure you that your life, that of your families, your investment and property will be safe in Malawi,” he said.
