MIF 2020 to focus on few projects—Mitc

Malawi Investment and Trade Centre (Mitc) plans to host the fourth edition of the Malawi Investment Forum (MIF) in June to dangle to investors “few specific investment projects” from the country’s growth sectors.

The MIF comes against the backdrop of concerns from some sectors, including Malawi Confederation of Chambers of Commerce and Industry (MCCCI), that there is nothing to show for the previous investment forums.

But in an interview on Friday, Mitc chief executive officer Clement Kumbemba said the MIF 2020 will present domestic and international investors a portfolio of investment projects in sectors such as agriculture, agro-processing, manufacturing, tourism, energy, information and communication technology and transport.

He said most of the projects will be those from growth sectors of the economy, including the Special Economic Zones (SEZ).

Kumbemba said land for SEZ has already been secured and is being developed in the country’s three regions.

He said: “We don’t want to float too many projects. We just want less than 10. We should be able to measure reasonable projects to be sold than floating so many projects that will not attract attention.”

Kumbemba said Mitc has played a role in many of the investments, which he said is contrary to sentiments by some quarters that the forums are not bringing tangible results on the ground.

Malawi’s Foreign Direct Investment (FDI)—the flow of capital between countries—has been fluctuating in the recent past despite various ambitious initiatives to increase the inflows.

In an earlier interview, Catholic University of Malawi economist Gilbert Kachamba said the fluctuation in FDI indicates that there are many supply-side constraints.

MIF is a gathering of international and domestic investors, financiers, policymakers and government representatives.