Malawi investment and Trade Centre (Mitc) chief executive officer Clement Kumbemba has said over 50 international companies have registered to take part in the Malawi Investment Forum (MIF) this month in Lilongwe.
Malawi has for the first time organised the investment forum to take place in the country, a departure from the usual practice where Mitc official, government and the private sector representatives would regularly go abroad to sell investment opportunities on offer.
The conference will be held under the theme ‘Doing Business in Malawi: An Inspired Choice.
Speaking in an interview in Lilongwe on Monday, Kumbemba said regional banks and other players in the financial sector from Asia have expressed interest to take part in the event which runs from June 29 to 30 at the Bingu International Convention Centre (Bicc).
“We have received overwhelming support to the extent that over 60 international companies have already registered to take part in the event. As regards resources we have managed to get over 60 percent of the required funds that we are looking for to organise a successful event. What people should know is that every, country including the United States, has the private sector as the driver of the economy and Malawi is not an exception,” he said.
Kumbemba also said about 40 local companies have shown interest to attend and urged others who have not yet made up their mind to take advantage of the event to sell themselves to the world.
“We want to see more Malawians take part in the event and they must show us bankable projects with complete feasibility studies because the banks that are coming here will be able to support such projects,” he said.
Minister of Industry and Trade Joseph Mwanamvekha recently told Business News that the private sector has a huge role to play to help sell the country to the outside.
The minister hinted that the forthcoming MIF will require K100 million (US$ 222 222) to be organised and that the private sector was willing to assist.
”For the first time Malawi will attract a large group of investors at once and it is our hope that they will be able to identify projects which they will be able to fund,” said Mwanamvekha.
Some of the sectors that have been identified for investors to pump in their resources include agriculture, mining, energy, infrastructure as well as financial services.