A strategic plan by Malawi Investment and Trade Centre (Mitc) has projected the country’s investment to rise to $15 billion, while export earnings would increase to $4.9 billion by 2019.
The centre aims to create 650 000 direct and indirect jobs during the same period, Mitc chief executive officer Clement Kumbemba said in an interview.
He further said Mitc wants to attract new investment worth K20 billion by the next five years.
Speaking on the sidelines of a result- based management training supported by African Development Bank (AfDB), Kumbemba said as part of the short-term targets, Mitc seeks to increase domestic and foreign investment through effective investment promotion and facilitation.
He said the training was aimed at aiding Mitc to develop management systems that put results as the main focus of its programmes.
He cited the attaining of its target of increasing trade volumes for non-traditional exports by a year to $1 billion annually as one of the targets the centre has set up.
“Whatever we do, whatever we plan, budget and implement should be focused on results in terms of applications processed, job creation and investment levels, we should be able to show the shareholder which is government that we are achieving those set targets,” said Kumbemba.
The five-day training has attracted participants from among several government departments including Ministry of Trade, Ministry of Finance, Economic Planning and Development, Mitc and National Audit Office (NAO).
He said projects such as the One Stop Trade Centre would help the country achieve its goals and targets of promoting and facilitating sustainable investment and trade.
The strategic plan further seeks to transform the country into a producing and exporting country through private sector investment.
