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India-Malawi agree to set up a Business Incubation Centre in Malawi

Posted on: September 17, 2016 | Back | Print

High Commission of India
Lilongwe (Malawi)
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Press Release

India – Malawi agree to set up a Business Incubation Centre  in Malawi

       A Memorandum of Understanding was signed between the Government of India and Government of Malawi to set up a Business Incubation Centre in Malawi on 16 September, 2016. Hon’ble Mr. Joseph Mwanamvekha, M.P, Minister of Industry, Trade & Tourism signed on behalf of the Government of Malawi, in the presence of the senior officials of the Ministry of Foreign Affairs and International Cooperation at the office of the Ministry of Industry, Trade and Tourism. Mr.  Suresh Kumar Menon, High Commissioner of India to Malawi signed on behalf of the Government of India.

2.    The Business Incubation Centre to be set up under a grant assistance of US$ 1 million (kw.745 mn) will house Food and Agro processing machinery, Packaging   machinery, Leather Goods and Paper products machinery. Government of India will provide the machinery, computer hardware and software and will depute Indian experts to Malawi for commissioning the incubator. Experts from India will also train the first batch of Malawian students in operating the various machinery installed at the Incubation centre. At the end of a four month training programme, the Trainees will be able to acquire enough skills, to be able to become Small & Medium enterprise   entrepreneurs with the training undertaken at the Incubation centre. They will also be able to join the industrial workforce, where such skills are required.  The experts from India will also undertake special training sessions to Train the Trainers, who will be entrusted with the running of the Incubation centre after the Centre is handed over to the Government of Malawi.

3.    The incubation centre should be operational by last quarter of 2017. This project is another effort by the Government of India to support the Government of Malawi in its policy of promoting a manufacturing sector in Malawi’s overall economic development. The Business Incubation Centre is another milestone in   furthering the warm and friendly relations between India and Malawi.

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17 September, 2016