LILONGWE (MaraviPost)— A head of the first Malawi-China Business Forum slated for June 21, 2016 in the capital Lilongwe, the Malawi Investment and Trade Centre (MITC) is calling for local firms and companies to quickly submit their bankable investment proposals for consideration by Chinese financiers in a joint business venture in the areas of agriculture, agro-processing and education sectors.This strategic business forum which commentators say will give local firms an opportunity to venture into business partnerships with Chinese investors is expected to be officially opened by the Malawi leader, President Peter Mutharika.
Addressing a news conference on Wednesday in Lilongwe, Clement Kumbemba, MITC’s Chief Executive Officer (CEO) expressed optimism that local companies and individuals will utilize the forum to enhance their opportunities with Chinese counterparts in business ventures.
Kumbemba disclosed that the forum will host a delegation of over 100 Chinese investors from China’s Anhui Province mostly in agriculture and agro-processing, industry or manufacturing and education sectors.
“The forum presents a unique opportunity for Malawi to sell its investment opportunities to Chinese Investors.We are seeking the possibility of transformational Chinese investment in Malawi through this forum. We want to empower Malawian entrepreneurs through possible ventures with Chinese counterparts while intensifying the government and business relations between the two countries.
“With only two weeks to go, we are calling local or companies to submit their bankable investment projects with detailed business plans for financing and joint venture by Chinese Investors who are willing to secure big projects in Malawi. We can’t afford to loss this opportunity hence the appeal.
“Currently, Malawi and China enjoys an increasingly cordial business and working relationship. As of 2015, International Trade Centre revealed that Malawi exported goods and services to China worth US$55,874,000 which represents 5.2% of Malawi’s export while the country imported goods and services from China worth US$303, 819,000”, disclosed Kumbemba.
Kumbemba further noted that though the trade gap remain wide, China has been making deliberate moves to reduce the gap through empowering Malawians on various training programs in their country so that they are able to develop appropriate concepts and strategies that would propel Malawi’s growth.
“Although the trade gap may seem to be wide, China has been making deliberate moves to reduce this gap through encouraging Chinese companies to come and invest in Malawi in order to achieve import substitution and export-oriented-ness and also supporting the nation to develop her productive infrastructure necessary for growth”, assures Kumbemba.
Last year, MITC successfully hosted the best ever Malawi Investment Forum whose one of the outcomes is the hosting of the Malawi-China Business Forum.
Malawi Investment and Trade Centre (MITC), a merger of the Malawi Investment Promotion Agency (MIPA) and Malawi Export Promotion Council (MEPC) was incorporated under the Companies Act and became operational on October 1st, 2011.
MITC is geared to towards promoting production (investment promotion) and marketing (export promotion) of Malawi’s goods and services including participate in trade fairs, facilitate investment process for potential investors, industrial assessment, counseling of investors and exporters.