Lilongwe, June 30, 2015: The Common Market for Southern Africa (COMESA) and the Southern Africa Development Community (SADC) Monday urged foreign investors to open their businesses in Malawi saying the country had everything an investor requires to thrive.
The two groupings made these remarks in their separate presentations at the launch of the first ever Malawi Investment Forum (MIF) at Bingu International Conference Centre (BICC) in Lilongwe where 130 investors from 31 countries across the globe.
COMESA Secretary General, Sindiso Ngwenya, told the foreign investors that Malawi did not only have a peaceful environment fit for investment, but that it had abundant labour force as well.
“Malawi is an oasis of peace,” said Ngwenya. “Malawi is not only the warm heart of Africa, but it is a peaceful country and a peaceful environment is what investors need when opening business.”
He said Malawi’s demographic landscape which has majority of the population below 30 years offers a big market size for investment.
The COMESA SG said tipped the investors that much as industrialization called for technical expertise, the unqualified majority of the population should not be ignored.
“Malawi has labour force you can rely on as long as train them and tell them what you want to achieve,” said Ngwenya.
He pledged that his team would scrutinize thoroughly the investment compendium Malawi government had prepared and make sure that Malawi government got all the support required in achieving her goals as regards foreign investment.
SADC Executive Secretary, Stergomena Tax, also urged the foreign investors to invest in Malawi and enjoy the benefits of dealing with the entire region and beyond through regional market integration.
“Malawi is ready to take her place in the global market and compete with the rest of the world and I urge you all to explore possible opportunities available,” explained Tax.
She said by dealing with Malawi, the investors would be dealing with the whole of SADC, thereby promoting regional integration, which is one of the key areas on the regional body’s agenda.
Other speakers at the Forum included Zimbabwe High Commissioner to Malawi and Dean of the Diplomatic Corps, Thandiwe Dumbutchena; IMF Country Rep, Geoffrey Oestreicher; and James Polan, OPIC Vice President, among others.
In his key note address, President Mutharika hailed the local and foreign investors for turning up for the first ever investment forum saying the time they had devoted to the forum would be worthwhile.
“You will learn about the strengths of Malawi and its investment environment; you will discover new investment opportunities; you will build productive partnerships with the domestic private sector; and you will discover why this country is called the “Warm Heart of Africa”, said Mutharika.
