Chimulirenji Says US-Africa Business Summit to Improve County’s Productive Capacity

Vice president Everton Chimulirenji has said that Malawi will benefit from Africa Free Trade Area in improving the country’s productive capacity.

“One of the advantages that Malawi is expecting from Africa Free Trade Area is that it will help in improving the country’s productive capacity to have quality products, as it is one of the areas that need improvement,” said Chimulirenji.

He disclosed that Malawi has also devised measures to woo foreign investors through the establishment of the Malawi Investment and Trade Center (MITC) through the One Stop Service Center where investors get all the necessary investment requirements under one roof in less than five days.

Chimulirenji further said Malawi also offers investor friendly climate with competitive tax and non-tax incentives package.  He said among others, Malawi offers both general and sector specific incentives such as tax allowances for the agro-manufacturing sector.

“There are investment opportunities in the private sector as prioritized by the government of Malawi in energy, manufacturing, agro-processing, tourism, infrastructure and information communication technology (ICT),” emphasized the VP.

The Summit has brought together more than 1,000 U.S. and African private sector executives, international investors, senior government officials and multilateral stakeholders