Adopts new Investment and Export Promotion Act
02 Feb 2024
On 2 February 2024, Malawi published the Investment and Export Promotion Act, 2024, which establishes the Malawi Investment and Trade Centre, with the goal of facilitating investment and exports within the country. The Act, defines the roles and powers of the Centre, including its functions. These include registering investors and exporters, issuing investment certificates, as well as promoting and facilitating investors. The Centre is composed of appointed and ex-officio members, overseen by the Minister responsible for ensuring gender equality in appointments.
Under the Investment Certificate section of the Act, both domestic and foreign investors are required to obtain investment certificates before engaging in business activities in Malawi. Domestic investors need a five-year validity certificate, while foreign investors require a three-year validity. The application process involves submitting prescribed forms and fees to the centre, which has the authority to approve or reject applications within specified time-frames.
The investment promotion functions of the Centre include formulating investment and export promotion plans, advising the Government on promotional incentives and formulating marketing strategies to attract foreign and domestic investments in selected sectors. They also include coordinating and monitoring investment and export promotion activities.
The investment facilitation functions include assisting investors and exporters in obtaining licences, permits, approvals, incentives or exemptions under relevant written laws, and facilitating the allocation of land to investors, including through the development, servicing and management of investment sites, industrial parks, estates, land and associated facilities. Finally, according to the Act, the Centre shall establish, within its premises, a one-stop-shop responsible for facilitating investments in Malawi and promoting exports from Malawi.
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Type:
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Entry and establishment (Approval and admission)
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Promotion and facilitation (Investment facilitation )
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Industry:
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