Tag Archives: Malawi Investment Forum

Malawi

MITC to host first-ever Malawi-India business forum; attracts much needed hydro power producers

Maravi Post correspondent
Malawi Trade Ministry PS Chiunda and India High Commissioner Menon addressing the media on Malawi-India Business forum

LILONGWE-(MaraviPost) – In its quest to market the country’s favorable investments, the Ministry of Industry, Trade and Tourism, through the Malawi Investment and Trade Centre (MITC), is scheduled to hold the first-ever Malawi-India business forum this Friday, March 17 in the capital Lilongwe. The is was announced by the ministry’s Principal Secretary, Cliff Chiunda.

The joint business forum comes amid applause from the general public on how such fora have attracted bankable investments into the country. This is affirmed by the 2016 Malawi Investment Forum (MIF) summary report, which revealed that Malawi concluded 10 public and 20 private sector investment agreement with US$ 26,305,000 earnings through products-base exhibition that were showcased locally and internationally.

Therefore, hosting another formal business forum with the Asian business persons, Malawi is expected to closely unlock the bottlenecks that impinge its investment growth and expansion. The forum is expected to attract 225 businesses locally and from Indian, focusing on energy, agro-processing, irrigation, health and manufacturing sectors.

The Export & Import Bank of India and Independent Power Producers on hydro, will also take part in the forum and avails the country opportunities in  energy business ventures.

Addressing the news conference on Monday in the capital ahead of the forum, Trade and Industry PS, said the conference was indicative of the opportunities for economic empowerment for local traders who will tap business management skills from their counterparts from India.

Chiunda said the meeting avows to the cordial relationship, and endorses India’s intentions to assist the development and empowerment of Malawians.

 

 

 

 

Business

2016 Malawi Investment Forum attracts $26m, and 30 private and public sector arrangements

Maravi Post correspondent
2016 Malawi Investment Forum

LILONGWE-(MaraviPost)- The Malawi Investment Forum (MIF) which the country hosted last year (2016), was an outstanding gamble to pursue, considering the huge public and privates investment deals that it generating. These will greatly foster the nation’s economic growth.

In its MIF 2016 summary report released on March 2, 2017 and made available to The Maravi Post, the Ministry of Industry, Trade and Tourism through the Malawi Investment and Trade Centre (MITC), lauded the success of the forum because it sealed 10 public and 20 private sector investment deals.

The forum also helped Malawi accrue  US$ 26,305,000 through product-based exhibitions that were showcased locally and internationally.

The forum overshot its target by signing 11 public sectors Memorandum of Understanding (MoUs) to work together toward the implementation of the respective projects, and defined the possible parameters of their working relationship including development of a 1,500 cubic metre storage facility for LPG gases; a 100,000 cubic metre storage facility for Petroleum products. Furthermore, Nedebe is to construct four Government office buildings at Capital Hill in Lilongwe on a turn-key basis; construction of 2,500 houses spread across Mzuzu, Lilongwe, Zomba and Blantyre. This housing project will be implemented through the Malawi Housing Corporation (MHC).

Other public investment deals are that MOTA Engil plans to establish a coal-fired plant for electricity production in Malawi, while the Lake Malawi water project to Lilongwe and Innosoft Solutions is planning to invest in e-government solutions in Malawi in the areas of National Data Center, Smart City System, ICT Consultancy, E-Government, E-judiciary, E-procurement, E-health, E-education, E-Parliament, and Cyber Security.

The private sector agreements, included CDH International Bank which met with Shire Cotton Spinners; the National Association of Small Farmers (NASFAM) and Sir Hackson Processors met with an international company and agreed to collaborate on an agro-processing project; TBEA Deyang and Bucow Investments have come to an understanding to pursue a 50-50 venture.

“70 local companies and 10 foreign companies exhibited at the MIF2016. The exhibition was also patronized by over 20 importers from the region, Dubai and India and 30 SMEs. The notable foreign exhibitors included Rolls Royce Limited, Engen South Africa, GIBB South Africa, Group Five, Green Heart of United Kingdom and 4 Indian companies namely Ahmed Raza Foods Industries, Forlink Ventures Pvt. Ltd.Surat, Gujarat, India, TRSR FZE and Anaya Overseas, reads the report in part signed by Cliff Chiunda and Clement Kumbemba Secretary for Industry, Trade & Tourism and MITC CEO respectively.

“The major trade deals struck during the exhibition amounted to US$26million and includes,” the report cited.

Following the success of the two investment forums in 2015 and 2016, Malawi is also expected to host another forum this year and is scheduled for November.