"Malawi wants U.S. firms to invest in its country." This was the main message of Chauncy Jere Executive Chairman of Malawi Exposition and business leaders who are Organizing MalawiExpo 2008 on an investment promotion mission. The delegation met with U.S. business representatives in Las Vegas, Los Angeles, San Francisco and Phoenix to discuss opportunities in agribusiness, manufacturing, and tourism in Malawi.
During the Press briefing meetings, Chauncy highlighted Malawi's attractive investment climate, which allows for import duty exemptions; few restrictions on profit repatriation, import payments, and debt servicing; generous tax exemptions and deductions; and 100 percent foreign ownership.
Chauncy Jere brought more information on new investment projects in the tourism, timber and paper, mining, manufacturing, and food and agricultural processing sectors for which it is seeking foreign equity capital, technical expertise, marketing know-how, and equipment. Specific projects include hotel construction, fish farming, fruit processing, phosphate extraction, gemstone mining, plasterboard manufacturing, ethanol production, furniture assembly, and glassware production.
In addition, Chauncy provided details on Malawi government's plans to privatize several existing companies. These companies include operations in oil extraction and refining, maize and wheat milling, livestock product development, and tobacco and maize production. Some companies can take advantage of this privatization program and purchase a majority interest.
Chauncy is confident that these investment opportunities will be profitable. Malawi receives duty-free access for its products to markets in Southern Africa, Europe, and the United States. With the opening of the Nacala railway line and Zambezi Waterway project and also availability of air cargo facilities, Malawi's exports are assured relatively cheap transportation to their various markets.
For more information on investment prospects in Malawi, contact: www.MalawiExpo.com
Wednesday, 22 August 2007
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