CIAO DATE: 07/2009
April 2009
Columbia Center on Sustainable Investment
The Earth Institute at Columbia University launched the Millennium Cities Initiative (MCI), an urban counterpart to the Millennium Villages Project (MVP), to assist nine mid-sized cities across sub-Saharan Africa in achieving the Millennium Development Goals (MDGs). MCI provides research and policy analysis to the cities in order to attract foreign direct investment (FDI). Increased FDI flows create employment opportunities by fostering local enterprise development and sustainable economic growth. In addition, MCI is helping the Millennium Cities to carry out needs assessments in a number of social sectors. The data from these assessments will enable MCI to generate integrated City Development Strategies to help each city meet the MDGs. Currently, the principal destination for FDI in Malawi is agriculture, most notably in tobacco and sugar. According to the World Investment Report 2007, Malawi had US$30 million of FDI inflow in 2006, compared to US$7 million in 2003. Other major sectors of investment include telecommunications, manufacturing, tourism, and mining. The bulk of FDI inflows come from the UK, the US, and South Africa.
Resource link: Foreign Direct Investment in Blantyre, Malawi: Opportunities and Challenges [PDF] - 658K