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The government is creating a friendly environment to attract more foreign investment into Kenya.
President William Ruto said the government would regularly improve policies to make it easier for companies to operate in the country.
“We will continue to engage with investors to make the law more business-friendly. This will encourage their growth.”
He was speaking during a meeting of the Kenya-Saudi business delegation at State House in Nairobi on Thursday.
The delegation, led by Saudi Arabia’s Investment Minister Khalid Al Farih, is comprised of 30 major companies and is one of the largest single business groups ever to visit Kenya.
President Ruto said Kenya is strategically located, giving businesses easy access to lucrative markets in the region and Africa in general.
He said the African Continental Free Trade Area (AfCFTA), with a population of over 1.4 billion people, also offers a wide range of opportunities for goods and services.
The President further told the conference that Kenya has a democratic system with a sound foundation of the rule of law to protect investors.
“This means that the market for your products is limitless when you are based in Kenya. You get great value for your investment.”
He cited ICT, leather, transport, renewable energy, housing, blue economy and agriculture, among others, as some of the ripe investments in the country.
The head of state explained that the current trade balance favors Saudi Arabia.
“That is why we invite you to join us in helping Kenya redress this imbalance by locating more industry in Kenya.”
Other government officials also attended the meeting, including cabinet ministers Moses Kuria (Minister for Investment, Trade and Industry), Davis Chirchir (Energy) and Florence Boa (Labour).
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