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| Bill to merge Mepc, Mipa ready—Lipenga |
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by
Felix Malamula, 16 June 2006
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06:31:28
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Trade and Private Sector Development Minister Ken Lipenga says the bill to facilitate the merger of the Malawi Export Promotion Council (Mepc) and the Malawi Investment Promotion Agency (Mipa) is now ready for cabinet discussion.
Lipenga said in Lilongwe the merger of the two parastatals will help investors spend little time to have their businesses operational in the country unlike in the past.
“We have a draft bill ready to be brought before cabinet. Once the two are merged we will have a truly one-stop shop where investors would get all what they want to start business in the country,” said Lipenga.
He was speaking soon after opening the stakeholders’ workshop on the review of the investment policy in Lilongwe.
Lipenga said the stakeholders’ workshop was important as it would give a chance to the participants to find out why the country has lagged behind in attracting investors compared to other countries.
“This is time for soul searching to find out why our friends have succeeded in foreign and domestic investment and not us. Answers might be found in this workshop,” he said.
Mipa General Manager James Kaphwereza Banda said there is little Mipa can do to attract and retain investors if the investment environment is not conducive.
“As an investment agency, we are the first point of call whenever investors—whether local or foreign—want to invest in the country. But if the environment is not conducive enough there is little we can do. Therefore, making the environment conducive is a collective responsibility by stakeholders in an economy,” he said.
The review of the investment policy, initially set to end in September this year, would also go with the review of the Investment Promotion Act of 1991, according to Mipa Corporate Affairs Manager Suzana Mjuweni. |
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