Taking advantage of the bilateral relationship existing between the Republic of Malawi and the Arab Republic of Egypt, The Malawi Embassy in Cairo engaged the Federation of Egyptian Chambers of Commerce (FEDCOC) with the aim of promoting Investment, Trade and Tourism between the two countries.
A virtual meeting that was held on 29th November 2022 brought together key government officials and private stakeholders from Malawi and Egypt who play different roles in Investment, Trade and Tourism in these countries. Participants from the Malawi side were drawn from the Ministry of Foreign Affairs, Ministry of Trade and Industry, Ministry of Tourism, Culture and Wildlife, Malawi Investment and Trade Centre (MITC) and Malawi Confederation of Chambers of Commerce and Industry (MCCCI) and Malawi Mission in Egypt. On the other side, the Egyptian representation was comprised of participants from the General Authority for Investment (GAFI), Union of African Chambers of Commerce, Industry, Agriculture and Professionals (UACCIAP), Egyptian Tourism Federation (ETF) and Federation of Egyptian Chambers of Commerce (FEDCOC).
The main objective of the meeting was to understand policies, legislations and regulations governing Investment, Trade and Tourism. Specifically, the meeting was held to appreciate the role of each of the key institutions and to enlighten on investment, trade and tourism opportunities in both countries. It was noted that MITC and GAFI are playing similar roles in their respective countries. However, GAFI also enforces and promotes investments of Egyptians in other countries. The Cairo Mission will therefore take advantage of this opportunity to further engage GAFI to extend its wings to Malawi as it does in other countries. It was also noted that Malawi can learn from Egypt which has a vibrant tourism body (ETF) that acts as a mouthpiece of the private sector in tourism. The meeting also noted that the ETF has training institutions in the area of hospitality which Malawi can benefit from. On incentives, both countries offer incentives in the areas of investment, trade and tourism.
During the meeting, Malawi presented a number of investment opportunity areas which include Agriculture, Manufacturing, Transport, Energy, Tourism, Mining and Infrastructure among others. These areas are in line with the Malawi 2063 Agenda and the National Tourism Investment Masterplan.
In her remarks, The Malawi Head of the Mission, Her Excellency Ambassador Katherine Kunje applauded the meeting as being fruitful. “I understand that the meeting met its objective as both countries discussed policy issues that an investor ought to know before investing in Malawi and Egypt.” The Ambassador further advised that action plan should be followed in order to realise the intended purpose of the meeting.
