UAE firms eye Malawi market
The Abu Dhabi Chambers of Commerce has shown interest to invest in Malawi’s energy, agriculture and water transport sectors.
Speaking on Monday during a meeting with Minister of Trade and Industry Simplex Chithyola Banda on the sidelines of the Abu Dhabi Annual Investment Meeting, Abu Dhabi Chambers of Commerce First Vice Chairperson Ali Sawed Bin Harmal Aldhaheri confirmed of his country’s interest.
“We are particularly interested in areas of renewable energy where we want to invest in the provision of sustainable energy supply. We are also interested in agricultural produce where we want to import beef, goat meat, vegetables and other cereals from Malawi,” he said.
Bin Harmal Aldhaheri said UAE would like to contribute towards smart city development, with special interest contributing to the water transport system on Lake Malawi by providing ships.
The UAE is also interested in exploration and mining of various minerals in Malawi.
In his response, Chithyola Banda said the government is ready to create a conducive environment for investment and facilitation of trade between the two countries.
“If all these deals materialise, Malawi will join other countries that export huge commodities into Dubai ranging from meat and meat products to agricultural produce such as cereals and vegetables. We also stand to benefit from huge investments in the energy and infrastructure sectors which will transform our economy and infrastructure development,” he said.
Chithyola Banda is one of the three key-note speakers and yesterday addressed the forum on ‘Open Government Policy on Social Development; Creating an Investment Friendly Environment’.
The UAE’s commitment to invest in Malawi comes after President Lazarus Chakwera also met the UAE authorities to woo investors.
The Abu Dhabi Annual Investment Meeting brought together participants from many countries to engage the UAE on various partnerships and deals.
The Malawi delegation comprised officials from the Green Belt Authority and Malawi Investment and Trade Centre, among others.—Mana
