The Minister of Trade and Industry Joseph Mwanamvekha says the private sector has committed to raise K100 million (US$222 000) to cover some of the activities during the first Malawi Investment Forum to take place at the Bingu International Convention Centre in Lilongwe from June 29 to 30.
Speaking in an exclusive interview at Parliament Building on Tuesday, Mwanamvekha said preparations are going on very well and they have invited investors from all over the world to see for themselves what Malawi has to offer.
The forum, according to Mwanamvekha, is a departure from the previous practice where staff members of the Malawi Investment Trade Centre (MITC) and other government officials would regularly go abroad to sell the country.
Said Mwananvekha: “The private sector has shown commitment to help in this noble cause and already K60 million (US$133 333) has been made available to the organisers. We are hopeful that by mid-June the remaining K40 million (US$88 889) would have been collected. This is impressive taking into account that we will be selling our country to potential investors.”
Mwanamvekha said they have invited investors from United States of America, Europe, the Far East, Brics members, Sadc and Comesa regions.
The World Bank, African Development Bank and the International Monetary Fund have also been invited.
Mwanamvekha also disclosed that while a national organising committee has been put in place, the Office of the President and Cabinet will be coordinating activities during the forum.
MITC public relations officer Deliby Chimbalu said over 100 delegates from outside Malawi have registered their interest to attend.
“We plan to have 300 delegates during the event and we have sent invitations through all our embassies and the response has been very encouraging.
“We hope to have more investors coming here because they will see everything for themselves unlike before when we were going abroad selling our country. This is part of the process of branding our country and we know investors will be flocking here,” said Chimbalu.
She said organisations have also started submissions of bankable projects which will be used to sell the country during the event.
The forum will be held under the theme ‘Doing Business in Malawi: An Inspired Choice’.