President William Ruto has wooed United States investors to explore Kenya’s market potential.
Speaking on Monday, September 23, 2024, during the US-Kenya Business and Investment Roundtable organised by the Corporate Council on Africa on the sidelines of the 79th session of the United Nations General Assembly (UNGA), Ruto said his administration is improving laws and policies that will meet the requirements of international investors.
Ruto pointed out that an improved business environment, combined with the country’s well-educated and trained workforce and abundant renewable energy resources, makes Kenya the ideal destination for trade and investment.
The Head of State urged American investors to take advantage of the conducive business environment to invest in Kenya.
“I invite you to Kenya and assure you of my personal commitment to facilitating your seamless entry into the market,” President Ruto stated.
Ruto on support for investors
He went ahead to promise necessary support to ensure foreign investments are successful.
President Ruto also cited the reforms the government is pursuing to support investors, arguing that they have allowed 100% ownership of ICT companies without the necessity of involving local partners as it was previously.
“We are also working to make Kenya’s Export Processing Zones and Special Economic Zones the most competitive in Africa. Nairobi, home to the globally recognised Silicon Savannah, is the centrepiece of our strategy to make Kenya a leading tech hub, with Konza City as Africa’s top destination for investment and innovation,” Ruto stated.
Destination for foreign investment
President Ruto further disclosed that the efforts to position Kenya as a leading destination for foreign direct investment in Africa have yielded commendable results.
Kenya, according to President Ruto, provides unrivalled access to the African continent through the world’s largest free trade area, the African Continental Free Trade Area (AfCFTA).
The President also invited American investors to take advantage of Kenya’s robust agricultural industry where he said lies a lot of potential in equipment manufacture and technologies.
Ruto is in the US for the 79th Session of the United Nations General Assembly (UNGA).
This year’s UNGA is addressing key global issues, with a focus on climate action, sustainable development and global governance.
