Malawi Investment and Trade Center (MITC) has launched the first international stock market, Xidian Stock Exchange (Malawi), as one way of promoting strong economic development for the country.
Speaking during the event on Friday in Lilongwe, Director General for MITC, Kruger Phiri, explained that Xidian Stock Exchange (Malawi) is also another way of advancing Malawi’s financial sector.
He said that the Xidian Stock Exchange (Malawi) is an important component of Malawi’s financial market, leading international entrepreneurs to invest in Malawi and promote sustainable economic growth and prosperity.
“Establishment of Xidian stock exchange (Malawi) will attract more international investors to pay attention to Malawi, bringing a large influx of foreign investment which will further promote economic growth in sectors such as agriculture, tourism, mining and infrastructure among others as aligning with the Malawi 2063 agenda, he added.
He further expressed gratitude to Chinese government for partnering with Malawi government in different investment sectors.
This landmark event marks a significant step for providing a transparent and standardised platform for investment and trade, complimenting the country’s stock exchange.
In his address, Chairperson for Xidian Stock Exchange, Liao Jun Hua, emphasised that the establishment of Xidian Stock Exchange (Malawi) is a great milestone for transforming Malawi’s economy.
“The Xidian Stock Exchange (Malawi) saves as a bridge for business and investors by providing a safer and more reliable investment environment in areas such as manufacturing, industrialisation and technology, he added.
He noted that this will also improve transparency and efficiency of the financial markets in Malawi.
In his remarks, Executive Director of Supervision and Regulation in Financial Services and Industry, Patrick Muhango, said the Stock Exchange will promote standardised trading platform and offer diversified investment opportunities for Malawi and international investors.
He therefore, appealed to Chinese government and other investors to continue playing important role in supporting the Malawi’s financial markets.
The event brought together key stakeholders from the public and private sectors, both locally and internationally, to explore key investment opportunities.
Mayors for Lilongwe, Blantyre and Mzuzu presented investments opportunities in their cities.
