Malawi eyes $400 million deals at Dubai Expo

Malawi eyes $400 million deals at Dubai Expo
Malawi eyes $400 million deals at Dubai Expo

Africa-Press – Malawi. Malawi has set another ambitious target to attract $400 million worth of trade and investment pledges at the on-going 2020 Dubai Expo. The country is also estimated to generate trade inquiries worth $80 million at the six-month exhibition which has drawn participation from 192 countries from around the world and forms the largest global expo in recent times.

The inquiries could be used for possible future linkages with potential investors from around the world. Malawi, a net importer, is positioning itself for export promotion and marketing investment at the exhibition. Key areas of investment include tourism, manufacturing, agro-processing and mining.

The Malawi Investment Trade Centre (MITC)—a government entity established to promote Malawi as an ideal destination for trade and investment—is coordinating Malawi’s participation at the expo with support from the Ministry of Trade.

MITC Assistant Public Relations Officer Nellie Mononga said the country is poised to strike competitive trade and investment deals at the expo. “The main objective was to promote trade and investment opportunities and brand Malawi as a tourist destination. We are looking at promotion of investment and bankable projects as well as obtaining pledges,” she said.

Mononga further said, by the end of the expo, the country would also work towards increasing awareness of Malawi’s tourism and cultures. This comes at a time tourism and mining are seen as having potential to boost the Malawi economy and supplement agriculture, which for decades has been the economy’s mainstay.

In a separate interview, Ministry of Trade spokesperson Mayeso Msokera rated the expo as a window of opportunity for Malawi to position itself as a competitive investment destination and a platform to establish business linkages with potential financiars for Malawi’s bankable projects.

He said in line with dreams and aspirations embedded in Malawi 2063, of becoming a middle-income economy, attracting foreign direct investment remains one of the key targets.

“We are also looking forward to marketing Malawi at the global stage as an investment destination in key priority sectors such as mining, manufacturing, agro-processing and tourism,” Msokera said.

The 2020 Dubai Expo was originally scheduled for October 2020 to April 2021 but was shifted following the Covid outbreak. It instead started on October 1 2021 and will run to March 2022.

Meanwhile, Vice President Saulos Chilima would on Saturday grace the Malawi Day, which is designated to showcase the country’s heritage, innovation and its cultural dimension at the expo.

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