Malawi is poised to become the most hotly contested destination for foreign direct investment in Southern Africa, President Lazarus Chakwera told potential investors at the Invest in Malawi Forum in New York on Monday night.
The forum attracted investors from a range of sectors, including agriculture, mining, cybersecurity, tourism, and industrialization. Chakwera said that Malawi has a number of investment opportunities to offer, including:
- Mega-farms initiative: Malawi is developing mega-farms across the country, which provide opportunities for investors in the agriculture sector.
- Health and water sectors: Malawi is seeking to improve the wellbeing of its people, which offers opportunities for investors in the health and water sectors.
- Education sector: Malawi is developing educational institutions and systems to build the capacity of its people to take their place in a digital future, which offers opportunities for investors in the education sector.
- Mining sector: Malawi is home to untapped minerals that will power digital transformation, including the recent discovery of the largest deposits of rutile found anywhere in the world.
- Transport sector: Malawi is seeking to create a regional hub with the development of a new international airport in the capital city, which offers opportunities for investors in the transport sector.
- Tourism sector: Malawi is regularly ranked amongst the top 10 naturally beautiful places to visit in Africa, and is one of the most peaceful places on earth.
Chakwera also emphasized that Malawi has a conducive investment environment, with a specialized Commercial Court Registry to settle disputes and a commitment to international arbitration. Malawi is also a member of the World Bank’s Multilateral Investment Guarantee Agency and the International Centre for Settlement of Investment Disputes.
In addition, Chakwera said that Malawi has a competitive business environment, with the country constantly implementing business reforms across all sectors aimed at reducing the cost, time, and procedures for doing business.
- Read our quick guide on how to invest in Malawi.
Chakwera also pointed out that investing in Malawi provides investors with access to more markets than just Malawi itself, through regional and continental markets such as the African market through the Southern African Development Community, and the Common Market for Eastern and Southern Africa (Comesa), and the African Continental Free Trade Area.
Some of the notable firms that attended the Invest in Malawi Forum include Vermeer Corporation, Pula Group International, and Cybastion.
According to Minister of Trade Simplex Chithyola Banda, the investors are expected in Malawi in mid-October, where they will be looking for partnerships with local counterparts.
Overall, the Invest in Malawi Forum was a successful event that attracted a number of high-profile investors. It is clear that Malawi is committed to attracting foreign direct investment, and the country has a number of attractive investment opportunities to offer.