Government has said the Malawi Investment Forum (MIF) slated for next week is expected to attract investments of up to $16 billion about (K7.2 trillion) in various sectors.
More than 80 international participants from United States of America, United Kingdom, China, India, South Africa, Brazil and Uganda have confirmed their participation with interests in seven sectors that are being promoted, according to Secretary for Industry and Trade Cliff Chiunda.
Also expected to attend, he said, are delegates including vice-president of Overseas Private Investment Corporation (Opic), the US government’s development finance institution, Southern Africa Development Community (Sadc) executive secretary and Nigerian billionaire businessperson, Aliko Dangote, who is ranked by Forbes magazine as Africa’s richest person.
Dangote has expressed interest to invest in Malawi.
Chiunda said MIF is a departure from the usual practice where officials from Malawi Investment Trade Centre (Mitc), government officials and private sector players would regularly go abroad to sell investment opportunities for the country.
The conference will be held on June 29 and 30 under the theme Doing Business in Malawi: An Inspired Choice.
Chiunda said the aim of the forum is to showcase Malawi investment opportunities to the global community to attract companies that can establish their businesses in Malawi to contribute towards economic growth and wealth of the country.
“Our target is to have 300 delegates that comprise 100 foreign, 150 local, 50 government officials and media practitioners. We will showcase opportunity areas in mining, agriculture and agro-processing, energy, manufacturing, infrastructure, tourism and financial services,” he said.
Chiunda said 90 local companies have confirmed their participation in the forum, adding that more are still expressing interest.
Mitc chief executive officer Clement Kumbemba urged more Malawians with bankable projects to come forward because this is a life-time opportunity.
“We know sometimes Malawians with good ideas and world class projects fear to come forward thinking that their ideas will be stolen. This must change because a forum like this one can change the fortunes of this country,” he said.
Kumbemba said the country is ready for the event.