The Kenyan government on Thursday announced that it 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 business operations in the country.
“We will keep engaging with investors so as to make our laws more pro-business. This will spur their growth,” said President Ruto.
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He spoke Thursday, July 13, 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 group 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.
Ruto 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, and agriculture, among others, as some of the ripe investments in the country.
The Kenyan Head of State explained that the current trade balance favours Saudi Arabia.
“That is why I encourage you to participate in enabling Kenya correct this imbalance by locating more industries here.”
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