MW to woo FDIs at UK-Africa meeting
Malawi has set an ambitious target of generating export orders and attracting Foreign Direct Investment at the United Kingdom (UK) Investment Summit.
The conference will be held in London on January 20, 2020.
The meeting will be hosted by the UK Prime Minister, Boris Johnson, and will bring together businesses, governments and international institutions to showcase and promote the breadth and quality of investment opportunities across Africa.
It is aimed at strengthening the UK’s partnership with African nations to build a secure and prosperous future for citizens.
It will mobilise new and substantial investment to create jobs and boost mutual prosperity.
In a statement issued yesterday, the British High Commission’s office said President Peter Mutharika is expected to attend the summit, accompanied by ministers, business executives and trade officials.
In the statement, British High Commission’s Charge d’Affaires, Gary Leslie, said the UK is committed to working with African countries.
“Under Prime Minister Boris Johnson, the UK has a vision of working together with African countries on innovation, forging new investments with sustainable impact that creates jobs and boosts prosperity for all through an enduring partnership.
The summit will be a chance to demonstrate to global business the scale of commercial opportunities in Africa.
It will also be an opportunity for the UK to showcase its offer to investors and to African partners.
Speaking in an interview yesterday, Malawi Investment and Trade Centre Public Relations Manager, Deliby Chimbalu, said the government has identified various projects that it will market at the indaba.
“Our goal is to identify serious investors. Key sectors that we are targeting include energy, manufacturing, mining, agriculture and tourism,’ Chimbalu said.
She said local entrepreneurs will also use the platform to share knowledge with the counterparts in the UK and others from Africa.
In 2018, the UK Government announced its ambition to be the largest G7 investor in Africa by 2022.
In the previous 18 months, total trade between the UK and Sub-Saharan Africa grew by more than 7 percent.