Kenya is open and safe for business, President Kenyatta assures global investors
President Uhuru Kenyatta has assured global investors that Kenya is open and safe for business.
Speaking at the launch of celebrations marking Kenya’s National Day at Expo 2020 Dubai, President Kenyatta said his administration had put in place a legal framework for investments that provides adequate investor protection in line with the most international standards, including safeguards for property rights.
He added that Kenya enjoys political and economic stability, a fully liberalized economy, a large domestic consumer market, a young, skilled and productive workforce as well as a network modern infrastructure.
“These attributes have made Kenya a hotbed for multinational companies and a prime destination for foreign direct investment in the region,” the Head of State said as he launched activities aimed at showcasing the Kenya’s rich cultural and economic diversity at the World Expo.
A total of 192 countries are taking part in the six-month-long World Expo in Dubai, with each country being assigned a national day of honor.
Meanwhile, President Kenyatta reiterated that Kenya is keen to establish new trade relations with the Gulf Cooperation Council states and other countries participating in the expo.
“We seek to exploit the opportunities presented by this exhibition to establish new business partnerships, attract new investments and bring tourists to Kenya to enjoy our world-renowned attractions,” said the President.
Noting Kenya’s Vision 2030 goals, which include transforming Kenya into a newly industrialized middle-income country by 2030, the President said trade, investment and strong partnerships with the private sector are essential. to the realization of the vision.
He expressed his belief that as the largest economic and trade hub with sufficient capacity in trade facilitation and logistics to serve more than eleven hinterland countries in the East African region and central, Kenya is in a strong position to expand its commercial and economic horizons for the benefit of its people.
“It is against this backdrop and in the spirit of Vision 2030 that we are here to promote business-to-business partnerships and build linkages between private and public sector institutions,” President Kenyatta said.
In his speech at the Kenya Flag Hoisting Ceremony, the Minister for Tolerance and Coexistence of the United Arab Emirates, His Highness Sheikh Nahyan bin Mubarak Al Nahyan, who is also Commissioner General of Expo 2020 Dubai, said said Kenya and the UAE boast of a strong relationship based on shared values and vision since its inception in the early 1980s.
“We are delighted to be among Kenya’s major trading partners in the world,” Sheikh Al Nahyan said, calling President Kenyatta’s presence at the expo a reflection of the strengthening of close ties between the two countries.
The UAE minister welcomed ongoing discussions to establish a new framework for cooperation in a wide range of priority areas for both countries, including food production, infrastructure, digitalization and renewable energy.
Sheikh Al Nahyan praised Kenya’s pavilion at the expo, saying that under the theme “Feel the Energy of Kenya”, the pavilion offers the world an opportunity to experience Kenya’s economic potential and provides insight into key sectors. such as agriculture, innovation and tourism.
Later, during an on-site interview at Expo 2020 in Dubai, President Kenyatta outlined the opportunities available to global investors in Kenya, ranging from agriculture, green energy and manufacturing.
(With contributions from APO)