PANAPRESS
Panafrican News Agency
Kenya: Kenya woos investors from Gulf region
Nairobi, Kenya (PANA) - Kenya's Foreign Affairs and International Trade Cabinet Secretary, Amina Mohamed, has urged investors in the Gulf region to venture into the Kenyan market and take advantage of existing and unfolding opportunities.
Speaking during the Country Focus Briefing on Kenya in Dubai, UAE, Amina said the Kenyan Government is actively seeking to partner with investors in the quest for national development, according to a Foreign Ministry news dispatch from Dubai.
“We are actively seeking to partner with investors in order to increase the level of investments in Kenya. Increased investments in the country will generate wealth and employment which are critical to growing the economy and uplifting the living standards of our people,” said Mohamed.
The Country Focus Briefing is a quarterly event organised by the Dubai Chamber of Commerce and Industry (DCCI) and aims to provide a platform for the selected country to showcase its investments and business opportunities to the business leaders of the Gulf region.
The Country Focus Briefing on Kenya, attended by over 100 investors, was organized jointly by the DCCI and the Kenyan Embassy in Dubai.
The appeal to investors in Dubai to invest in Kenya is part of an aggressive drive by the Cabinet Secretary to position Kenya as the preferred destination for investors and as the gateway to Africa for foreign investors.
The Cabinet Secretary assured the investors that Kenya is the economic hub of the East and Central Africa region which has been rated among the most attractive investment destinations in the world.
“The Fortune Magazine recently rated Kenya as the 7th best investment destination in the world. The latest Sovereign Rating by Fitch and Standard & Poors rating agencies placed Kenya at B+ with a stable outlook,” said Mohamed.
The Cabinet Secretary attributed the positive ratings to the comprehensive structural reforms that have been implemented in the country over the last decade.
She noted that the country achieved lower middle income status after the rebasing of real GDP figures in 2012 and is now the 9th largest African economy with a Gross Domestic Product (GDP) of US$55.2 billion.
Mohamed assured the investors that the macro-economic environment in the country was stable, predictable and conducive to business, adding that the country has a modern financial sector with a vibrant stock market.
“The country has the most developed stock market in the region with a market capitalization of US$ 2,333 billion. It was the 2nd best performer in the MSCI frontier stock market index for 2013, behind United Arab Emirates,” said the Cabinet Secretary.
Mohamed further said the government has developed a Public Private Partnership Policy Framework to facilitate engagement with the private sector.
“We have also established the Kenya Investment Authority which is a one–stop shop for assisting foreign investors in matters of land acquisition, work permits, setting up offices and factories, as well as obtaining the required licences and approvals,” she added.
-0- PANA DJ/VAO 13March2015
Speaking during the Country Focus Briefing on Kenya in Dubai, UAE, Amina said the Kenyan Government is actively seeking to partner with investors in the quest for national development, according to a Foreign Ministry news dispatch from Dubai.
“We are actively seeking to partner with investors in order to increase the level of investments in Kenya. Increased investments in the country will generate wealth and employment which are critical to growing the economy and uplifting the living standards of our people,” said Mohamed.
The Country Focus Briefing is a quarterly event organised by the Dubai Chamber of Commerce and Industry (DCCI) and aims to provide a platform for the selected country to showcase its investments and business opportunities to the business leaders of the Gulf region.
The Country Focus Briefing on Kenya, attended by over 100 investors, was organized jointly by the DCCI and the Kenyan Embassy in Dubai.
The appeal to investors in Dubai to invest in Kenya is part of an aggressive drive by the Cabinet Secretary to position Kenya as the preferred destination for investors and as the gateway to Africa for foreign investors.
The Cabinet Secretary assured the investors that Kenya is the economic hub of the East and Central Africa region which has been rated among the most attractive investment destinations in the world.
“The Fortune Magazine recently rated Kenya as the 7th best investment destination in the world. The latest Sovereign Rating by Fitch and Standard & Poors rating agencies placed Kenya at B+ with a stable outlook,” said Mohamed.
The Cabinet Secretary attributed the positive ratings to the comprehensive structural reforms that have been implemented in the country over the last decade.
She noted that the country achieved lower middle income status after the rebasing of real GDP figures in 2012 and is now the 9th largest African economy with a Gross Domestic Product (GDP) of US$55.2 billion.
Mohamed assured the investors that the macro-economic environment in the country was stable, predictable and conducive to business, adding that the country has a modern financial sector with a vibrant stock market.
“The country has the most developed stock market in the region with a market capitalization of US$ 2,333 billion. It was the 2nd best performer in the MSCI frontier stock market index for 2013, behind United Arab Emirates,” said the Cabinet Secretary.
Mohamed further said the government has developed a Public Private Partnership Policy Framework to facilitate engagement with the private sector.
“We have also established the Kenya Investment Authority which is a one–stop shop for assisting foreign investors in matters of land acquisition, work permits, setting up offices and factories, as well as obtaining the required licences and approvals,” she added.
-0- PANA DJ/VAO 13March2015
