INVESTMENT AND EXPORT PROMOTION

CHAPTER 39:03
INVESTMENT AND EXPORT PROMOTION

ARRANGEMENT OF SECTIONS

    SECTION

PART I
PRELIMINARY

    1.    Short title

    2.    Interpretation

PART II
THE MALAWI INVESTMENT AND TRADE CENTRE

    3.    Establishment of the Malawi Investment and Trade Centre

    4.    Functions of the Centre

    5.    Powers of the Centre

    6.    Composition of the Centre

    7.    Tenure of office

    8.    Vacancies

    9.    Meetings of the Centre

    10.    Committees of the Centre

    11.    Allowances of the members of the Centre

    12.    Disclosure of interest

PART III
ADMINISTRATION

    13.    Secretariat of the Centre

    14.    Director General

    15.    Other employees

PART IV
ONE-STOP SERVICE SHOP

    16.    One-Stop Service Shop

PART V
NATIONAL INCENTIVES COMMITTEE

    17.    National Incentives Committee

    18.    Procedure and reporting of National Incentives Committee

PART VI
FINANCIAL PROVISIONS

    19.    Funds and property of the Centre

    20.    Levy

    21.    Accounting and audit

PART VII
INVESTMENT CERTIFICATE

    22.    Investment certificates

    23.    Application for, and issuance of, investment certificates

    24.    Criteria for issuance of investment certificates

    25.    Renewal of investment certificates

    26.    Transfer of investment certificates

    27.    Revocation of investment certificates

    28.    Notification of abandonment of investment certificate

PART VIII
EXPORTER REGISTRATION CERTIFICATE

    29.    Exporter registration certificates

    30.    Renewal of exporter registration certificate

    31.    Suspension or revocation of exporter registration certificate

PART IX
INCENTIVES

    32.    Fiscal incentives

    33.    Income tax allowance

    34.    Duty drawback

PART X
SERVICES

    35.    Strategic areas for investment and exports

    36.    One-Stop service for relevant permits, licences, etc.

    37.    Land for investment

    38.    Immigration

    39.    Utilities and other services and facilities

PART XI
APPEALS

    40.    Appeals

    41.    Procedure and expenses of appeals panels

PART XII
MISCELLANEOUS

    42.    Non-application of the Act to certain products, etc.

    43.    Register of licences, permits, certificates, etc.

    44.    Records to be kept

    45.    Amendment of certificate, permit, etc.

    46.    Annual reports

    47.    Common seal

    48.    Oath of secrecy

    49.    Confidentiality

    50.    Protection from personal liability

    51.    General penalty

    52.    Regulations, rules, etc.

    53.    Repeal and savings

    54.    Cessation of Malawi Investment and Trade Centre Limited and transfer of rights and obligations

        SCHEDULE

6 of 2024

    An Act to provide for the promotion of investment and exports in Malawi; the establishment of the Malawi Investment and Trade Centre; the establishment of the One-Stop Service Shop; the establishment of the National Incentives Committee; the repeal of the Investment Promotion Act, the Export Promotion Council Act and the Export Incentives Act; and to provide for matters incidental thereto

PART I
PRELIMINARY

1.    Short title

    This Act may be cited as the Investment and Export Promotion Act.

2.    Interpretation

    In this Act, unless the context otherwise requires—

    “Centre” means the Malawi Investment and Trade Centre established under section 3;

    “Chairperson” means the Chairperson of the Centre appointed under section 6 (2);

    “Director General” means the Director General of the Centre appointed under section 14;

    “domestic investment” means an investment made by a domestic investor;

    “domestic investor” means an investor who is—

    (a)    a natural person who is a citizen, or a permanent resident, of Malawi;

    (b)    a partnership or association in which the controlling interest is owned by a person who is a citizen or permanent resident, or jointly owned by persons who are, citizens or permanent residents, of Malawi;

    (c)    a legal person incorporated under the laws of Malawi in which—

        (i)    more than fifty per cent of shares are held by persons who are citizens or permanent residents of Malawi; or

        (ii)    fifty per cent or more of the voting rights are held by persons who are citizens or permanent residents of Malawi;

    “Exporter registration certificate” means a certificate issued by the Centre pursuant to section 29;

    “foreign investment” means investment made by a foreign investor;

    “foreign investor” means an investor who is not a domestic investor;

    “investment” means a domestic investment or a foreign investment but excludes a portfolio investment;

    “investment certificate” means a certificate issued by the Centre pursuant to section 22;

    “investor” includes an existing and potential investor but excludes an investor on a securities market;

    “portfolio investment” means an investment in shares or other securities traded on any securities and money market;

    “public body” has the meaning as ascribed to that term under the Public Finance Management Act; and

    “strategic area” means a strategic area for investment or export as prescribed under section 35.

PART II
THE MALAWI INVESTMENT AND TRADE CENTRE

3.    Establishment of the Malawi Investment and Trade Centre

    There is hereby established a…