Dubai Expo raises investment hopes

Malawi’s participation at the 2020 Dubai Expo underway in the United Arab Emirates is being seen as an ideal platform for clinching trade and investment deals that would help facelift the local economy.

This is according to Chairperson of the Malawi Investment and Trade Centre (MITC) Karl Chokotho.

He said in an interview Thursday that the centre expects the country to clinch more investment and trade deals at the expo.

Chokotho said the country has been given November 20 as Malawi Day at the global business showpiece, which provides countries with an opportunity to sell what they can offer in investment and trade to the whole world.

He added that President Lazarus Chakwera has confirmed that he would be at the exhibition to boost the country’s morale during the show.

“We are going there to meet people we do not know and when such is the situation, you are not certain about how much you could get from deals.

“However, while we are banking on this fair, we are approaching several investors almost on a daily basis to boost trade and investment,” Chokotho said.

In an earlier interview, MITC Investment Promotion Manager Modie Chanza said, so far, they have received expressions of interest from at least 30 companies in agro-processing, mining and textile.

She said they expect the country to clinch $50 million in investment enquiries and another $20 million in export deals at the expo.

The Dubai Expo 2020 was originally scheduled for October 20 2020 to April 10 2021; however, due to the Covid pandemic, the dates were shifted to October 1 2021 to March 31 2022.

SOURCE: THE TIMES GROUP