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Malawi engages extra gear in attracting FDI

Malawi Investment and Trade Centre (Mitc) on Friday launched a website to help the country attract more foreign direct investment (FDI).

Mitc planning and research manager Noel Lihiku said government is aware that investment promotion strategies have over the years evolved; hence, the website.

“If Malawi is to aggressively compete on the international level, it must keep pace with the rest of the world,” he said.

The launch comes at a time the country is struggling to attract foreign investors due to the prevailing tough macroeconomic environment, erratic power and water supply and high costs of doing business, among other factors.

Lihiku said studies show that a website is one of the most powerful marketing tools as it has big audience and is cost effective.

He added most countries that do well in attracting FDI is concerned use interactive websites.

“Mitc has some financial challenges that frustrate its efforts to conduct investment and trade missions, but with the website it will reach out to all corners of the world,” said Lihiku.

The website has tabs about Malawi, investment guide, export guide, success stories and information centre, among others.

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