India-Malawi India-Malawi 2019 | Page 34

South Africa, and Malawi’s low labour costs investing in the garment/textile industry would be a smart choice for foreign investors. *Light goods manufacturing: Malawi imports most of its light goods equipment such as household electrical fittings (e.g cables, plugs, switches) and engineering materials, e.g. steel-based products. Investors are therefore invited to invest in this sector to reduce current imports and save foreign exchange. 5-Infrastructure: Infrastructure is one of the key prerequisites for economic growth. It is a key component for creating an enabling environment for private sector driven growth and provision of timely and quality social services. It is envisaged that the development of the prioritized infrastructure will contribute to the realization of sustained economic development for Malawi. Specifi c Investment Opportunities: • Transport and Logistics System • Water Development • Housing and Urban Development 6-Energy: This industry is crucial as it supports other industries for sustainable economic growth and infrastructure development. Huge private investment is required to meet increasing energy demand for both household and industry use. Hydroelectricity, fossil fuels and biomass are the most used energy sources in Malawi. The Government is inviting local and foreign investors to invest in the following areas; Specifi c Investment Opportunities • Hydro generation, distribution and transmission • Solar energy • Wind energy • • • • • Fuel storage and oil pipeline facilities Thermal power plant Biomass Stoves Biogas and RPG Conduct feasibility studies for possible hydro generation sites 7-Information & Communication Technology (ICT): Information is a vital resource for all mankind throughout all stages of life. It is therefore important that information should be made available in a form that is applicable and usable, and at the right time. Challenges in the sector include: low usage and adoption of electronic and online services; lack of eff ective regulatory frameworks; high communication costs; high printing costs; lack of coordination and collaboration on ICT infrastructure development; intermittent availability of service, low geographic coverage; low local content in terms of provision of information; inadequate institutional and human capacity and low usage of modern broadcasting technology. 8-Forestry: Malawi has large forest plantations which are mainly; Nyika Plateau at Chelinda, Dedza, Mulanje mountain, Zomba plateau and Chikangawa. Specifi c Investment Opportunities: • Value addition to the country’s vast forest resources via the manufacturing of timber and timber-based such as blackboards, cheap boards, plywood • Opportunities are also there to develop new forests. • Log and logging supply agreements for harvesting and cutting of existing timber. Source: Malawi Investment & Trade Centre 34 • INDIA-MALAWI • 2019