On 2 February 2024, Malawi introduced measures requiring screening for foreign investments under the Investment and Export Promotion Act. Foreign investors must obtain an investment certificate from the Malawi Investment and Trade Centre (MITC) before investing. The issuance of these certificates is subject to economic interest criteria, including job creation, technology transfer, and contribution to local economic development. In specific sectors, the law mandates joint ventures between foreign and domestic investors, ensuring local participation and alignment with national priorities. Additionally, investment certificates are non-transferable without prior approval, allowing the government to monitor and regulate investments closely. The Act also sets sector-specific minimum thresholds for investments, prioritising high-impact projects.
"Part VII—Investment certificate
22.—(1) A domestic investor who intends to invest in a business enterprise may, subject to subsection (3), obtain an investment certificate under this act.
(2) a foreign investor shall not invest in Malawi unless the investor holds an investment certificate issued under this act. 
(3) the Minister may, on recommendation of the centre and by notice published in the Gazette, prescribe the minimum thresholds and sectors for issuance of domestic investment certificates.
23.—(1) An application for an investment certificate shall be made to the centre in the prescribed form and shall be accompanied by the prescribed fee.
(2) The Centre may, in processing an application under subsection (1), require the applicant to provide such further information as may be necessary for the determination of the application.
(3) The Centre shall, within twenty-one working days from the date a complete application is lodged, approve or reject the application and notify the applicant of its decision in writing within five days of the decision.
(4) where the centre—
(a) approves, the application, The Centre shall issue to the successful applicant, an investment certificate in the prescribed form; or
(b) rejects the application, The Centre shall give to the applicant reasons for the rejection in writing.
(5) an investment certificate issued under subsection (4) (a) to an investor shall—
(a) in the case of a domestic investor, be valid for five years; and
(b) in the case of a foreign investor, be valid for three years.
24. The Centre shall, in considering an application for an investment certificate, have regard to—
(a) the need to promote economic development and inclusive growth in Malawi;
(b) the extent to which the proposed investment will create employment opportunities and contribute to the development of human resources;
(c) the extent to which the investment will contribute to improvement of quality of life of Malawians, especially vulnerable groups;
(d) the degree to which the investment is export oriented or biased toward import substitution;
(e) the extent to which the investment will contribute to technology transfer; and
(f) any other considerations as The Centre may consider appropriate.[...]" (Investment and Export Promotion Act, adopted 2 February 2024, Sections 22, 23, and 24)
Investment and Export Promotion Act, adopted 2 February 2024
[<a href="https://docs.dcafs-tipdep-donors-mw.org/dt_docs/Investment-and-xport-promotion-act-assented-feb-2024.pdf">Act</a>]