LILONGWE-(MaraviPost)-The country will not host the lucrative Malawi Investment Forum (MIF) this year as government is consolidating 2015 and 2016 bankable projects for effective implementation.

Minister of Industry, Trade and Tourism, Henry Mussa made the announcement on Monday in Lilongwe upon arrival from the United Kingdom (UK) trip, where he interacted with potential investors in a series of 15 meetings his delegation attended.

Mussa told The Maravi Post that 2017 the MIF postponement will give government enough time to consolidate bankable projects that local and international investors committed to in the past two forums.

The Minister emphasized the need for the country to implement programs in trickling down economic growth than to make other agreements.

He therefore assured the nation that MIF will be held in June 2018, and with serious investors. This is particularly in the energy sector, which remains the country’s challenge to invigorate economic growth.

“It’s not right to keep on making business agreements without following its implementation. So, the next nine months, the ministry will consolidate all the business ventures that were committed to in the last two investments fora.

“A technical committee will be put across to follow up all bankable projects agreed upon in the past to avoid duplication of the same projects instead of having new ones. So, we will not host 2017 MIF till June next year when we expect to host another exciting event,” Mussa said.

Echoing on the same, Clement Kumbemba, the Malawi Investment and Trade Centre’ (MITC) Chief Executive Officer (CEO), whose agency accompanied the Trade Minister’s trip to the UK, said the nation was on truck in making sure that agreed business ventures are implemented in a timely manner.

Kumbemba added that business agreements, particularly in the energy sector, are bearing fruits following two companies plans to launch a 40-megawatts energy plant at Golomoti in Dedza by end of this year.

In the UK, the minister’s meetings dwelled on different sectors such as infrastructure development, energy, manufacturing, agro-processing, hospitality industry and health issues to do with pharmaceuticals and education among others.

Mussa met with energy producing companies, which expressed interest in setting up a 100-megawatt solar farm in the country on a 400-acre piece of land with a tariff of US$0.11.