Site icon The Maravi Post

Trade Minister Joseph Mwanamveka satisfied with preparations ahead of Malawi’s June 29 Investment Forum

Joseph MwanamvekaMalawi Minister of Industry and Trade, Joseph Mwanamveka has expressed satisfactory with private sector response over the courtesy call to submit bankable projects for consideration by international financiers ahead of June 29, 2015 Malawi Investment Forum (MIF) slated in the capital Lilongwe.

Mininster Mwanamveka was addressing the media on Saturday, June 27, 2015 in the capital Lilongwe aimed at updating them on country’s readiness in hosting the first ever MIF in recent times with so far 236 local and 150 international companies confirming their participation to the event.

 

Mwanamveka said the current response from the local private sector with MK70 million contribution towards the event was an indication of the trust they have in Malawi as a ground to put their money for tangible investments.

“With the current response from local and international firm’s shows that Malawi is the best destination where their monies can be invested due to microeconomic environment. No investor can abandon his or her usual business just to attend the forum, it means research was done prior to their response to participate into the conference.

“This is a great opportunity for Malawi’s local firms to venture jointly into business which will boast our economic growth. With their responses towards participation, government is very grateful as our role is to facilitate the dialogue among local and international companies.

“We will make sure that any business deals sealed at the end of the forum are traced with its translations into the people of this nation’s economic transformation. This the reason we made sure that those participating have what it takes to move this country forward”, assures Mwanamveka.

Later, The Maravi Post caught up with Clement Kumbemba, Malawi Investment Trade and Centre (MITC) Chief Executive Officer (CEO) who echoed with the Minister sentiments on local firm’s response for his organization earlier appeal to submit bankable projects which he said over 70 proposals have been registered for possible consideration by international financiers.

“Bankable projects are based on the demand from international financiers toping the list is mining, agriculture-agro processing, energy, manufacturing, infrastructure, tourism and financial services sectors.

“The most interesting news is about the Africa’s richest man, Aliko Dangote whose interest is on cement production. This is also outstanding venture Malawi will secure regarding to the need the nation has on cement for infrastructure development”, delighted Kumbemba.

At the end of the forum, Malawi expects to generate prospective investments of up to US$16 billion (MK7.2 trillion). The major financial institutions which have expressed interests to showcase their ideas with local companies in joint business ventures including Industrial Development Corporation (IDC) of South Africa, The PTA Bank, The development Bank of Southern Africa (DBSA), Afrexim Bank, European Investment Bank (EIB) and some from Asian countries.

Exit mobile version