Minister of Trade, Industry and Tourism, Henry Mussa has said the Malawi Investment Forum (MIF) would be an ideal platform for the country to attract potential investors.
Malawi will from next week Monday, host the third MIF in the administrative capital, Lilongwe.
The forum to be held under the theme, ‘Promoting Private Sector led Growth: Key to Malawi’s Sustainable Development’ is targeting over 40 investment projects in Agriculture and Agro-processing, Energy, Manufacturing, Tourism, Transport and Infrastructure sectors.
Some commentators fear that Malawi would not make the most of the forum following announced amendments on tax requirements from investors by Finance Minister Goodall Gondwe.
Addressing journalists during a joint press briefing with the African Union (AU) delegates ahead of the MIF in Lilongwe,
Mussa, however, downplayed the fear, saying the operating environment is conducive.
He also said that energy challenges rocking Malawi would stand on the path to attract Foreign Direct Investment inflows into the country as the government is working towards addressing it.
“Where there is a challenge, there is also an opportunity for investors who are interested in power generation. As I speak, businesses are expressing interest to invest in the country’s energy sector.
“On tax incentives; there are some sectors that were considered for tax incentives, only to discover that they don’t need them. They are not in manufacturing, construction and processing, these would continue to enjoy the tax incentives,” Mussa said.
AU Regional Delegate to Southern Africa, SADC & COMESA, Leopold-Auguste Ngomo said the continental body is focusing on empowering the private sector as a key driver of the integration process.
“The private sector is rarely part of the policy debate on the integration process and does not participate in decision-making. Paradoxically, the private sector is often listed among key players in driving the regional integration through investments, production expansion and industrialization” Ngomo said.