Sunday, May 26, 2024

Dubai Expo 2020: Chilima says “Malawi is a land of investment opportunities”

DUBAI-Vice President Salous Chilima has wooed business moguls to come and invest in Malawi, a country which he has described as a land of investment opportunities in Africa.

Chilima is in Dubai, United Arab Emirates (UAE), representing President Lazarus Chakwera at the Dubai Expo 2020 which will run up to 2022.

The Vice President told investors on Saturday that some of the reforms Malawi has undertaken is the establishment of the One Stop Service Centre in the Malawi Investment and Trade Centre (MITC).

He said the establishment plays a crucial role in reducing the amount of time an investor takes to start his/her business in Malawi; eases access to business permits and incentives; and facilitates access to land.
“If you are planning to invest in Malawi, MITC will support you from preparation stage until your business is established,” Chilima said.

He said there is also improvements on access to land such that the Lands Act now empowers the Ministry of Lands to allocate land to the MITC for investment purposes.

” This means if you would like to invest in Malawi and you are wondering on where to find land, MITC should be one institution you should consult,” he stated.

Chilima further touted Online Visa application whereby investors no longer have to go through the hassle of applying for visas manually.

The process has been automated to promote efficiency and relieve investors of any burdens associated with manual application.We believe that these initiatives are crucial and provides a conducive environment for investors wishing to invest in Malawi, the Warm Heart of Africa,” he emphasized.

There are also value added products such as sugar and edible oils, that Malawi has abundant raw materials of, which can also be supplied,” he said.

Chilima said the introduction of an Emirates Airlines freighter plane which lands in Malawi will help facilitate to transport any perishable and sensitive goods to and from Malawi in a timely

” The impact of this Expo will be felt by millions of people across the world, including Malawi. I hope you will all enjoy the stunning cultural performance that has been put together by our dancing troupe and I am looking forward to seeing you in Malawi, the Warm Heart of Africa,” he added.

According to (MITC), Malawi is eyeing to attract US$400 million worth of trade and investment pledges at the on-going 2020 Dubai Expo in key areas of investment include tourism, manufacturing, agro-processing and mining.

The country is also estimated to generate trade inquiries worth US$80 million at the six-month exhibition which has drawn participation from 192 countries from around the world and forms the largest global expo in recent times.

MITC is championing and coordinating Malawi’s participation at the expo and according to Assistant Public Relations Officer Nellie Mononga said the country is poised to negotiate competitive trade and investment deals at the expo.

The main objective was to promote trade and investment opportunities and brand Malawi as a tourist destination. We are looking at promotion of investment and bankable projects as well as obtaining pledges,” she said.

Chilima arrived in Dubai on Wednesday night and after the Expo he is expected to represent President Chakwera at the COMESA Heads of State and Government summit in Egypt.

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