The President of Kenya has said that Kenya has a democratic system with a sound footing of the rule of law that protects investors. The Government is creating a friendly environment that will attract more foreign investments to Kenya. President William Ruto said the Government will also routinely refine its policies to make it more facilitative for businesses to operate in the country.
“We will keep engaging with investors so as to make our laws more pro-business. This will spur their growth.”
He was speaking on Thursday at State House, Nairobi, during the Kenya-Saudi Arabia business delegation meeting. Led by the Saudi Arabia Minister of Investment Khalid Al Falih, the delegation — made up of 30 major firms — is one of the largest single business groups ever to undertake a visit to Kenya.
President Ruto noted that Kenya is strategically located, making it easy for businesses to access the lucrative markets in the region and Africa in general. He said the African Continental Free Trade Area (AfCFTA), of more than 1.4 billion, also offers broader opportunities for their goods and services.
The President further told the meeting that Kenya has a democratic system with a sound footing of the rule of law that protects investors.
“This means when you set up in Kenya, markets for your products are limitless. You will get value for your investment.”
He cited ICT, leather, transport, renewable energy, housing, blue economy, agriculture, among others, as some of the ripe investments in the country. The Head of State explained that the current balance of trade favours Saudi Arabia.
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“That is why I encourage you to participate in enabling Kenya to correct this imbalance by locating more industries here.”
Cabinet secretaries Moses Kuria (Minister for Investments, Trade and Industry), Davies Chirchir (Energy) and Florence Bore (Labour) among other officials were in the meeting.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry