MITC registers investment levels of $765million between April and August 2022

April-August 2022 Investment interests

Malawi Investment and Trade Centre (MITC) has announced that it has recorded investment interests of $765 million within the first five months of the 2022/2023 financial year. The registered investment pledges are higher than those recorded within the same period in the 2021/2022 financial year which was $106 million.

The investment pledges are from 12 companies from countries like UK, India, Mauritius, Israel, Sri-Lanka, Poland, Germany, and Canada, which have been issued with investment certificates from MITC.  55% of these pledges are from investment projects in construction sector, while 16% and 15% are in energy and agriculture/agro-processing sectors respectively. 3% of the pledges are registered in the manufacturing sector.

The biggest investment pledge that we have recorded within this period is a project earmarked in Nalikule Lilongwe for the development of a smart city. The other investment projects are spread across cities of Lilongwe, Blantyre and Zomba as well as Nkhotakota and Dowa Districts.’

In terms of employment, these investment projects once operational are expected to generate at least 3654 jobs.

Within the same period MITC through its land desk in the One Stop Service Centre managed to facilitate land identification, acquisition and advisory services to about 13 investors. About 54% of these investors are operating in the energy sector, while 23%, 15% and 8% are from manufacturing, agriculture and tourism sectors respectively.

The one stop service centre within MITC is really helping to streamline the investment registration process in Malawi. Through this set up we have managed to assist a number of investors who had issues in setting up their investment in the country. For instance the issue of land has been a challenge but through our lands specialist in the Ones Stop Service Centre (OSSC) we are now able to provide support to investors in this area. Just also to mention that the services within the OSSC are open to both domestic and foreign investors. Besides handling issues of land for investment, people can also use this set up to get their business permits as well as apply for tax incentives for their various investment projects.’

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