The Ministry of Industry, Trade and Tourism is Wednesday expected to launch an investment guide (iGuide) in a bid to create a conducive business environment for the private sector.
The ministry partnered the Malawi Investment and Trade Centre (Mitc), the United Nations Economic Commission for Africa (Uneca) and the United Nations Conference on Trade and Development (Unctad) to develop the investment guide.
Publicist in the ministry, Wiskes Nkombezi, said iGuide is a web-based tool for disseminating up to date investment related information such as investment opportunities, relevant rules, laws and licensing requirements, taxation and tax incentives and business costs.
“The iGuide was developed to address a number of challenges investors and potential investors face to find timely, relevant and consolidated information relating to investment,” he said.
Nkombezi said the iGuide has a number of benefits that include reduction in time and cost it takes to access investment information.
“This means investors will be able to access the information online anywhere around the globe, at their convenient time and without physically visiting government offices.
“The other benefit is that it will assist investors to access and understand information about required procedures, standards and associated costs through the website. This will give them more time to familiarise themselves with the requirements and organise documentation before starting their business ventures,” Nkombezi said.
He further said, through the iGuide, investors will be able to access information about investment opportunities available in Malawi in various sectors such as agriculture, manufacturing, and tourism.
Nkombezi said the tool will also provide useful links and contact details for various government agencies and will also include a database of associated costs of utilities such as water, electricity and telecommunication and costs of labour, transportation and land.
“The ministry, therefore, would, like to urge all stakeholders, investors, potential investors and members of the general public to utilise the tool,” he said.
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