Malawi unveils electronic investment guide to attract investors
Malawi has officially launched its iGuide, an electronic investment platform developed by the Malawi Investment Trade Center (MICT) assisted by the ECA and UNCTAD acting in line with the United Nations principle of “Delivering as One”.
The iGuide is an easy-to-use online platform providing domestic and foreign investors alike with up-to-date and pertinent information on business opportunities as well as applicable laws and regulations.
The platform is grouped into seven chapters around the themes of business set-up, labour, production factors, land, taxes, investor rights, sectors and opportunities.
“The iGuide was launched at an opportune time when investors are facing challenges including accessing consolidated up-to-date investment-related information under one umbrella. In this respect, the Malawi Investment Guide, a joint project of the Ministry of Industry, Trade and Tourism with support of the ECA and UNCTAD, was therefore, developed to address these challenges. The iGuide is expected to bring benefits to investors and to the country in general,” noted the Minister of Industry, Trade and Tourism and MP, Mr. Henry Mussa, during the launch of the iGuide.
Presenting the iGuide during the launch, Emmanuel Chinyama, Economic Affairs Officer, ECA, informed the experts that the project was carried out at the request of the Republic of the Malawi to the Executive Secretary of the ECA.
“The Malawi iGuide will be key in attracting investments shaped by the growth sectors and opportunities section, which highlights most recent national development strategies in terms of potential investment priorities”, he added.
Following Congo, the Malawi launch is the second in a series of iGuides supported by the ECA, which also include Nigeria and Zambia for which the launch is expected during the first quarter of 2018. This technical support falls into the ECA’s advisory services and capacity-building domain.
The iGuide project was rolled out in 2013 by the UNCTAD, complementing the former published investment guides which require updates every four years to keep track of new developments.
To date, ten countries in Africa, Asia and Latin America and the Caribbean, including Burundi, Kenya, Congo and Rwanda, have the electronic platform for investors at their disposal.