Investors coming to Malawi can find a favourable incentive regime that includes tax holiday for 10 years and extra breaks virtually allowing them to open factories without additional costs, Industry, Trade and Tourism Minister Henry Mussa.
Mussa was speaking in London during the Commonwealth Argosy Events where some investors committed to travel to Malawi within a year to explore opening of businesses, describing the tax regime as one of the most attractive.
The Minister who has had a marathon of meetings averaging seven a day with various stakeholders, told British investors at the prestigious Calvary and Guards Club that Malawi was open for investment with one stop centre, attractive incentive regime and a base for accessing preferential trade markets to Africa.
The theme for the evening forum was "Malawi: Gateway to African markets."
"We have priority areas such as value addition to agriculture products, manufacturing, tourism and infrastructure development including ICT. These areas will allow you to claim tax holiday and duty free importation of materials.
"Further you can repatriate all your dividends. We have a generous incentive scheme for you to come and invest in Malawi," said the Minister to an attentive crowd.
Mussa said the current administration is addressing skilled labour gap by other things providing training through community colleges which will complement the new industries whose primary market could be Comesa and Sadc countries.
In his presentation Chief Executive Officer for the Malawi Investment and Trade Centre Clement Kumbemba said it was possible that the combined total tax holidays and incentives could led to zero percent tax for setting up manufacturing plants.
Malawi High Commissioner to the UK Kenna Mphonda said the Mission was keen to follow up and provide all necessary support to UK investors wishing to travel to Malawi to explore investment opportunities.
One of the Investors a Mrs Meredith said she had family members who had visited Malawi and was convinced after hearing from the Minister that she intends to build a new hotel in Malawi.
The Minister also met officials from the UK Department of Trade and Foreign and Commonwealth Office.