CHAPTER 39:05
INVESTMENT PROMOTION

ARRANGEMENT OF SECTIONS

   SECTION

PART I
PRELIMINARY

   1.   Short title

   2.   Interpretation

PART II
PROMOTION OF INVESTMENT IN MALAWI

   3.   Statement and the Investors Guide to rank paramount

   4.   Publication and revision of the Statement and the Investors Guide

PART III
THE MALAWI INVESTMENT PROMOTION AGENCY

   5.   Establishment of the Agency

   6.   General authority of the Agency

   7.   Compliance with the requirement of written laws

PART IV
OBJECTIVES AND FUNCTIONS OF THE AGENCY

   8.   General objectives and functions of the Agency

PART V
ORGANIZATION AND ADMINISTRATION OF THE AGENCY

   9.   Board of Directors

   10.   Composition of the Board

   11.   Tenure of office

   12.   Members not to delegate attendance to the business of the Board

   13.   Co-opted persons

   14.   Meetings of the Board

   15.   Powers and functions of the Board

   16.   General Manager of the Agency

   17.   Other staff of the Agency

   18.   Duties of the General Manager

   19.   Salaries

   20.   Honorarium for Board members

PART VI
FINANCIAL PROVISIONS

   21.   Funds of the Agency

   22.   Levy

   23.   Financial year

   24.   Books and other records of account

   25.   Audit

   26.   Pensions and other funds

PART VII
MISCELLANEOUS

   27.   Regulations, rules or orders

       Schedule

       Supplement

28 of 1991
12 of 1992
19 of 1995
G.N. 49/1992

An Act to accord paramount status to the investment policies and procedures contained in the Statement of Investment Policies and the Investors Guide issued by the Government and revised from time to time; to establish the Malawi Investment Promotion Agency and to provide for its powers, duties and general authority; and to provide for matters connected with or incidental to the foregoing

[16TH MARCH, 1992]

PART I
PRELIMINARY

1.   Short title

    This Act may be cited as the Investment Promotion Act.

2.   Interpretation

   In this Act, unless the context otherwise requires—

   “Agency” means the Malawi Investment Promotion Agency established by section 5;

   “appropriate Minister” means the Minister responsible for the subject matter in question;

   “Board” means the board of directors of the Agency established by section 10;

   “Chairman” means the chairman of the Board;

   “investment” means private investment, and other grammatical variations or cognate expressions thereof shall be construed accordingly;

   “investor” means an existing or potential investor;

   “Investors Guide” or “Guide” means the publication as set out in the Schedule to this Act as a supplement to the Statement of Investment Policies and as from time to time revised;

   “Minister” means the President in his ministerial responsibility for the Office of the President and Cabinet;

   “Statement of Investment Policies” or “Statement” means the statement of the Government as set out in the Schedule to this Act and as from time to time revised, being a statement containing the principles of the Government aimed at promoting and assisting investment in Malawi.

PART II
PROMOTION OF INVESTMENT IN MALAWI

3.   Statement and the Investors Guide to rank paramount

    Every public officer and any authority in Malawi exercising or performing powers, duties or functions in connexion with or concerning the commitment of the Government in promoting and assisting investment in Malawi as declared in the Statement of Investment Policies (in this Act otherwise referred to as the “Statement") and in the Investors Guide (in this Act otherwise referred to as the “Guide") shall, in the exercise of his powers or the performance of his duties or functions, consider and treat the Statement and the Guide as ranking paramount in the business of the Government and shall further consider it to be his or its paramount duty to act with all due diligence and dispatch in taking such action as is required or necessary to give effect to the Statement and the Guide.

4.   Publication and revision of the Statement and the Investors Guide

   (1) The Statement and the Investors Guide shall be published respectively by the Minister and the Agency for general distribution and, in the case of the Investors Guide, copies of its publication shall be made freely available and without charge in and outside Malawi to investors in Malawi.

   (2) Following any change in the Statement, or following any legislative or statutory action or other action having similar effect taken by the Government in pursuance or in the implementation of the Statement or the Investors Guide, the Minister shall, by order published in the Gazette, amend the Schedule to this Act so as to revise the Statement or the Investors Guide accordingly.

PART III
THE MALAWI INVESTMENT PROMOTION AGENCY

5.   Establishment of the Agency

   There is hereby established a body to be known as the Malawi Investment Promotion Agency (in this Act otherwise referred to as the “Agency") which shall be a body corporate by that name, having perpetual succession and a common seal and which shall, by that name, be capable of suing and being sued and of acquiring, holding and alienating movable or immovable property and, subject to the provisions of this Act, of doing or performing all such acts or things as bodies corporate may by law do or perform.

6.   General authority of the Agency

   In addition to any other powers, duties and functions conferred on the Agency by or under this Act, it shall be the principal object of the Agency to ensure the giving of practical and prompt effect to the commitment of the Government on investment in Malawi as declared in the Statement of Investment Policies and the Investors Guide and, for that purpose, the Agency shall have power—

   (a)   to receive queries and complaints by, or on behalf of, an investor against any public officer or any authority in dealing with any matter submitted to the public officer or to the authority by, or on behalf of, the investor;

   (b)   to summon or call upon any public officer or any authority to promptly decide, in accordance with the relevant written law, on any matter submitted to the public officer or authority by, or on behalf of, an investor and to communicate the decision to the investor or to show cause, satisfactory to the Agency, why a decision on the matter cannot be promptly made or communicated to the investor, and further to request for an indication as to when a decision or the communication will be made;

   (c)   to inquire into the reasons for any negative decision by any public officer or any authority on any matter submitted by, or on behalf of, an investor to the public officer or authority and, where the Agency is not satisfied with the reasons given, to make representations to the public officer or authority or to the appropriate Minister on behalf of the affected investor;

   (d)   to report to the Minister cases of inefficiency, laxity and ineptitude by any public officer or any authority in the exercise of his or its powers or the performance of his or its duties and functions bearing upon the purposes and objects of this Act, the Statement of Investment Policies or the Investors Guide; and

   (e)   to do all such things as the Agency considers to be necessary for its objectives and functions and conducive to the fulfilment of the purposes of this Act, the Statement and the Investors Guide.

7.   Compliance with the requirements of written laws

    Nothing contained in this Act shall be construed as exempting any investor, any public officer, any authority or any person from complying with the requirements of any written law.

PART IV
OBJECTIVES AND FUNCTIONS OF THE AGENCY

8.   General objectives and functions of the Agency

   (1) The general objective of the Agency shall be to promote, attract, encourage and facilitate local and foreign investment in Malawi and, without prejudice to the generality of that objective, the Agency shall have the following functions—

   (a)   to facilitate and support all aspects of the investment process in Malawi including, but not limited to, the timely receipt of Government approvals, permits, licences, registrations and the fulfilment of any other regulatory authorizations;

   (b)   to provide courtesy services to investors;

   (c)   to provide information relating to investment in Malawi;

   (d)   to identify partners in or outside Malawi for joint venture business opportunities in Malawi;

   (e)   to liaise and generally interact with local and intenational financial institutions for the benefit of investors;

   (f)   encourage expansions and new investments by existing investors in Malawi;

   (g)   to develop a favourable investment image of Malawi regionally and outside the region;

   (h)   to undertake investment promotion missions within the region and outside the region;

   (i)   to recommend to the Government changes in the statutory and administrative framework relevant to the investment climate of Malawi and to make representations against or regarding any changes to any such statutory or administrative framework; and

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