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Chinese Business Community contributes MWK18.1 million towards the Malawi Investment Forum

The Chinese Business Community has given the Government of Malawi money amounting to eighteen million one hundred thousand kwacha to assist in the preparations for the forthcoming Malawi Investment Forum which is scheduled for June 29th and 30th at the Bingu International Convention Centre in Lilongwe.

Making the donation in Lilongwe on Tuesday Chinese Ambassador to Malawi His Excellency Mr. Zhang Quingyang said the assistance is a response to the request presented to them by the Malawi Government towards financial support for the forum.
 
Read more about this story by visiting the Malawi Investment Forum's website: http://www.mwif2015.com/index.php/mif-news/100-chinese-business-community
 
 
MITC NEW BOARD CHAIR FOR A VIBRANT MITC 
 
 Clement-Chilingulo ChairClement Chilingulo-New Board Chairperson for MITC
Board-Members and staffThe New Board of Directors pose for a photo with MITC management

The newly appointed Chairperson for Malawi Investment and Trade Centre (MITC) Mr. Clement Chilingulo says the institution has a critical role to play in assisting government to grow the economy through trade and investment promotion.
 
Chilingulo made the remarks in Lilongwe during an induction meeting for the newly appointed Board of Directors for MITC.
 
He said MITC is better placed to help the country transform from a net importer and consumer to a net producer and exporter.
 
‘My vision for this Institution is to see that MITC is actively participating in the economic development of this country by promoting and facilitating sustainable trade and investment deals’, outlined Chilingulo.
 
On the challenges that the institution is currently facing, the new Board Chairperson emphasized the need to diversify the resource envelope which is the major obstacle affecting implementation of most of the activities of the Centre.
 
‘We need to work together with management of MITC and see how best the institution can diversify its resource base for smooth operation of its mandates’, explained Chilingulo.
 
The new MITC Board of directors has ten members with Clement Chilungulo as the Chairperson, Mrs. Grace Mijiga Mhango, Steve Mangwaya, Mischeck Esau and Senior Chief Mpama as members whilst Secretary for Industry and Trade, Comptroller of Statutory Corporations, Secretary for Economic Planning and Development, Secretary to Treasury and Secretary for Lands, Housing and urban development are Ex-officio members.
 
The new Board of Directors was appointed on 9th April 2015.
 
 
Malawi Investment Forum - Calling for Participation
Friday, 15 May 2015 08:00
PRESS RELEASE:
MALAWI INVESTMENT FORUM 2015- CALLING FOR PARTICIPATION
The Government of Malawi through the Malawi Investment and Trade Centre (MITC) is organizing the first ever Malawi Investment Forum 2015 (MIF 2015) to be held in Lilongwe from 29th to 30th June at the Bingu International Conference Centre.
 
The MIF 2015 is aimed at showcasing investment and trade opportunities in Malawi, promoting specific investment opportunities to both domestic and foreign investors. The forum is expected to expose participants to a wide range of investment opportunities which will be deliberately packaged for the event.
 
This will be the largest and one of the most important forums in Malawi in 2015. We are expecting a total of 300 decision makers from all over the world including the BRICS ( Brazil, Russia, India, China and South Africa), The United Kingdom, The United States of America, Belgium, Italy, and other African, European and Asian countries just to mention but a few.
 
Specific investment opportunities in seven sectors of Mining, Agriculture & Agro-processing, Energy, Infrastructure (Transport, telecommunications and ICT), Tourism and financial services, besides the investment projects contained in the Malawi Investment projects compendium document will be packaged and marketed at the forum.
 
MITC is therefore calling for companies, individuals and businesses to submit their bankable projects of not less than US$500,000 capital in the sectors mentioned above for packaging. The projects should be submitted to MITC not later than Friday the 15th of May, 2015.
 
Malawi Investment Forum is intended to be a national and annual event in Malawi that will bring foreign investors, local investors, Heads of public institutions and development partners together to collectively discuss the business environment in Malawi and to identify prospective investment areas of interest.
 
For more information on registration and other logistical arrangements please contact MITC offices First Floor Aquarius House, P/Bag 302, Lilongwe. Tel: 01 771 315 or visit www.mwif2015.com/ www.mitc.mw. Email This e-mail address is being protected from spambots. You need JavaScript enabled to view it or This e-mail address is being protected from spambots. You need JavaScript enabled to view it
 
Clement Kumbemba
Chief Executive Officer

 

 

 

PUBLIC NOTICE:

APKASI INTERNATIONAL TRADE AND INVESTMENT SUMMIT – 13TH TO 15TH MAY, 2015 IN JAKARTA, INDONESIA

Malawi Investment and Trade Centre is inviting the business community to participate in the APKASI International Trade and Investment Summit to be held from 13th to 15th May, 2015 in Jakarta, Indonesia.

The Summit is aimed at promoting business and investment cooperation’s in various sectors, such as mining and energy, Tourism, Agriculture, Fisheries and Infrastructure. Relevant stakeholders are expected to participate in form of business forums and exhibitions. The fair aims at promoting Foreign Direct Investment, by establishing a global bilateral or multilateral intercommunication platform among international entity corporations.

The Summit will also integrate major Indonesian investors as well as, investors from other countries. For countries requiring Foreign Direct Investment like Malawi, the summit provides a good place to negotiate transnational investment to showcase Malawi’s investment environment and promote investment projects.

It is therefore in light of the importance of the event that MITC is inviting interested trade and investment officials (government and private sector) who have an interest to introduce their project proposals to a wide range of investors and have negotiations with other project owners and investors.

 

Those interested to participate can obtain more information from www.aitis.co.id, or alternatively you can directly contact MITC offices in Aquarius House along Convention Drive, City Centre Lilongwe, at the following numbers: (265) 01 771 315/ 01 771 707 or fax 01 771781.Note that MITC will not be liable to pay for any costs attached to the participation of this fair.

Clement Kumbemba

CHIEF EXECUTIVE OFFICER

 
OSSC institutions fully on board!
Thursday, 12 February 2015 09:09

ossc1

Partner institutions within the One Stop Service Centre (OSSC) at Malawi Investment and Trade Centre have expressed satisfaction with how the one stop service model for investment facilitation is progressing. Speaking in Lilongwe during a joint press briefing on the progress of the One Stop Service Centre, representatives from the key institutions under OSSC said it was pleasing to note that investors both local and foreign are now patronizing the Centre to get their necessary permits and documentation for them to start up their businesses.

 

Commissioner General of MRA Mr. Raphael Kamoto said so far MRA's customs specialist has managed to facilitate incentives for over 11 investors under the OSSC. Mr. Kamoto was however quick to say that the Customs Specialist is only mandated to facilitate incentives that are within their legal framework as approved by parliament.

 

'Our Customs and Tax Specialist at the One Stop Service Center, is empowered to grant investment incentives to investment applications within 5 working days according to the incentives package that is approved by Parliament. The official cannot grant incentives which are outside the approved incentives package'. Explained Kamoto.

 

On its part the Department of Immigration under the Ministry of Home Affairs and Internal Security said granting of investors permits at the newly established OSSC has helped to ease a backlog of applications at immigration. Secretary to the Ministry Bestone Chisamile explained that their immigration specialist has so far received and processed in excess of 30new and renewal permits for both existing and new investments.

 

Chisamile however, clarified that the permits that are issued under the OSSC are for investors only. "Our Specialist based at the Centre only receives and process permit applications for applicants in the category of Investors. All applications for BRP and TEP who are operating trading ventures are still being handled by the Department of Immigration and Ministry of Home Affairs'', explained Chisamile.
Meanwhile MITC says following the establishment of the OSSC, the Centre has seen an increased interest by already existing companies as well as new companies wanting to have an investment certificate and to formalize their existence and operations with MITC.

 

CEO for MITC Mr. Clement Kumbemba said in this short period there has been obvious movement in the investment and employment numbers.

 

On 1st September, 2014, the government of Malawi designated MITC as the focal point for all investment processes and facilitation. Since then MITC has been operating as a One Stop Service Centre for investment and trade facilitation.

 
MITC RECORDS US$ 1.8bn INVESTMENT PLEDGES FOR 2014
Wednesday, 21 January 2015 09:04
 MITC RECORDS US$ 1.8bn INVESTMENT PLEDGES FOR 2014
Malawi Investment and Trade Centre (MITC) has disclosed that the country managed to get investment commitments totaling to US$ 1,877,941,026.00 in 2014. 
 
US-Dollar
According to Chief Executive Officer for MITC, Clement Kumbemba this is a big jump from 2013. Kumbemba said this in Lilongwe when briefing the press on progress made on the recently launched Malawi Investment Projects Compendium.
 
He said of the total investment commitments recorded last year, the largest investment commitments went to the energy sector with a total of US$ 1,453,242,000.00 seconded by the mining sector with US$ 103,800,000.00.

“we are happy to report that in 2014 we managed to attract 36 companies who have committed investment projects totaling to close to US$ 1.8bn, and we believe that in 2015 we will surpass this figure’, explained Kumbemba.
 
Kumbemba was however quick to point that operationalization of the pledged investments is dependent on the speed with which line ministries grant authorization to the companies to start their operations. He made this statement with regards to projects in the energy and mining sectors.
 
MITC UPBEAT ON MALAWI INVESTMENT PROJECTS COMPENDIUM
Wednesday, 21 January 2015 06:34
 
MITC UPBEAT ON MALAWI INVESTMENT PROJECTS COMPENDIUM
Kumbemba
Malawi Investment and Trade Centre (MITC) says the recently launched compendium of Malawi Investment Projects is proving to be an important marketing tool for Malawi business opportunities.

MITC Chief Executive Officer Mr. Clement Kumbemba said the compendium, which is a compilation of 118 bankable projects, presents business opportunities that Malawi has to offer to both foreign and local investors. He said this in Lilongwe during a press briefing organized by MITC
 
‘Most if not all of the projects contained in this compendium are viable and of strategic importance to Malawi. Implementation of these projects will in no doubt put Malawi on a fast development lane,’ said Kumbemba.
 
The compendium is the first investment projects handbook for Malawi that aims at marketing available business opportunities. Since the launch in December last year, MITC has been receiving a lot of enquiries from both local and foreign investors concerning the projects listed in the compendium.

‘So far we have received three serious foreign investors who are interested in some of the projects in the compendium, and another local firm which is interested in some tourism projects listed in the document’, explained Kumbemba.
Kumbemba further said MITC expects to receive more enquiries by the end of the first quarter of 2015. He also added that the compendium will be updated quarterly to incorporate new projects.

MITC is optimistic that the private sector will take lead in implementing some of the projects presented in the compendium.

Meanwhile MITC’s One Stop Service Centre continues to register success in streamlining business registration process. MITC was on first September, 2014 designated as a One Stop Service Centre for both trade and investment enquiries. Since the operationalization of One Stop Service Centre, MITC has managed to process crucial permits like Business Residence permits, Temporary Employment Permits, Investment Certificates within a time frame of five days.
 
President Mutharika Launches Malawi Investment Projects Compendium 2014
Thursday, 04 December 2014 10:54
compendium launch 
MALAWI INVESTMENT PROJECTS COMPENDIUM 2014 LAUNCHED
President Prof Arthur Peter Mutharika on Wednesday launched the Malawi Investment Projects Compendium 2014, which he described as the first ever compilation of bankable investment opportunities in the country. The compendium presents investment opportunities of 118 bankable projects in various sectors including energy, mining, agriculture, manufacturing, ICT, media and communications, infrastructure development etc.
 
President Mutharika then urged the private sector, which he recognized as the engine for the country’s economic growth, to exploit the investment opportunities presented in the compendium.He said his government is aware of the various challenges that are rocking the doing business environment and has since committed to improving the situation.
 
Government recognizes that the private sector can only fulfil its role if the state provides the right environment for it to thrive. We have sustained a number of pro-business reforms and continue to introduce more’’, explained Mutharika.
 
He further said as a matter of urgency his government is addressing some of the challenges relating to; economic governance, policy predictability, public safety, fair competition, obtaining credit among others, to improve ease of doing business in the country.The launch of the compendium follows President Mutharika’s directive — upon his return from the Washington US Africa Leaders’ Summit — to all Ministries to produce a compendium of investment opportunities that would be used to woo potential investors in the country.
 
Malawi continues to face challenges in attracting foreign direct investment compared to its neighboring countries in the region.
Click the following link to access the compendium: >>> MALAWI INVESTMENT PROJECTS COMPENDIUM 2014 <<<
 
President Mutharika to launch Investment Projects Handbook
Tuesday, 02 December 2014 08:01
 H.E. Prof. Arthur Peter Mutharika
 
His Excellency the State President Prof Arthur Peter Mutharika will on Wednesday, 3rd December, 2014 launch the Malawi Investments Projects Handbook at Kamuzu Palace, Lilongwe.
The Malawi Investments Projects Handbook is a compendium of bankable projects in respective ministries.
According to a press statement released by the State house the launch follows President Mutharika’s directive — upon his return from the Washington US Africa Leaders’ Summit — to all Ministries to produce a compendium of investment opportunities that would be used to woo potential investors in the country.
The statement further says President Mutharika is committed and determined to change Malawi from a predominantly importing and consuming economy to a predominantly exporting and producing economy and to graduate Malawi’s economic status from Aid to Trade.
 
Dubai investors keen on Malawi
Friday, 28 November 2014 10:25
Dubai investors keen on Malawi
 Dubai CCI
The Dubai Chamber o f Commerce and Industry says there is high potential for Malawi to secure investment and trade deals in Dubai especially in the area of food production and supply.
Dubai Chamber of Commerce and Industry senior vice president for commercial services Atiq Juma Faraj Nasib said Dubai is in need of food supply and Malawi has the potential to supply that.
“Malawi will also get various expertise from companies that will invest in your country,” said Nasib.
He said Dubai also stands to benefit through a diversified source of food and agriculture supplies and increased trade.
On his part, Malawi Investment Trade Centre (MITC) chief executive officer, Clement Kumbemba, said there are a number of investors in Dubai who have shown interest to come and explore investment opportunities in Malawi.
“There are a number of investors who have shown interest to come to Malawi. This is something positive and as MITC we are happy with the news,” said Kumbemba.
He said the investors are in the sectors of agriculture, tourism, construction, value addition and processing.
Kumbemba also said Malawi being an agro-based economy; stands to get more business from Dubai which imports 90 percent of its food stuff.
“As a country we expect to benefit from this market,” said Kumbemba.
He said the government has put in place policies that will see investors getting better services than before.
“Previously investors would get frustrated because our processes were taking time. But now with the One Stop centre we are able to process documents within a short time and this gives the investors’ confidence hence we should see an influx of investors into the country,” said Kumbemba.
He said most of Malawi’s neighbouring countries are able to export to the UAE market and Malawi cannot be left out.
“Our friends in Tanzania, Mozambique and Zambia are able to export here, why not us. Dubai has a potential export market at the same time we also have opportunities to offer for investment,” he said.
Minister of Infor mation, Tourism and Culture Kondwani Nankhumwa – who is the leading the Malawi delegation on the mission, said government expects the trade mission to open up doors for investment.
He said there are a number of areas that the government needs support from the private sector.
“There are projects in tourism, agriculture, power generation that we need support in. So far there are investors who are interested to venture into energy production, agriculture and fresh foods and as government we will make sure that we offer these investors all the necessities so that they are able to carry their businesses in Malawi,’ said Nankhumwa.