CAPE TOWN – KENYA’s President Uhuru Kenyatta has assured global investors that Kenya is open and safe for business.
Speaking when he launched celebrations to mark the Kenya National Day at the Expo 2020 Dubai, Kenyatta said his administration had put in place a legal framework for investment that provided adequate investor protection in line with most international standards. These included safeguards for property rights, according to a statement issued by the presidency on Wednesday.
He added that Kenya enjoyed political and economic stability, a fully liberalised economy, a large domestic consumer market, a youthful, skilled and productive labour force, as well as a modern infrastructure network.
“These attributes have made Kenya the location of choice for multinational companies and a leading destination for foreign direct investment in the region,” the head of state said as he kicked off activities to showcase Kenya’s rich cultural and economic diversity at the global showpiece.
A total of 192 countries are participating in the six-month world exposition in Dubai, with every country allocated a national day of honour.
At the same time, Kenyatta reiterated that Kenya was keen to build new trade relationships with the Gulf Co-operation Council states and other countries participating in the expo, said the presidency.
“We seek to harness the opportunities offered by this expo to build new business partnerships, attract new investments and bring tourists to Kenya to enjoy our world-renowned attractions,” the president said.
Noting the goals of Kenya’s Vision 2030, which include transforming Kenya into a newly industrialised middle-income country by the year 2030, the president said trade, investment and strong partnerships with the private sector weree key in realising the vision.
He expressed confidence that as the largest economy and business hub with sufficient capacities in trade facilitation and logistics to service over eleven hinterland countries in the Eastern and Central Africa region, Kenya was in a strong position to expand its trade and economic horizon for the benefit of its people.
“It is against this background, and in the spirit of Vision 2030, that we are here, to promote business-to-business partnerships and establish linkages between private and public sector institutions,” the president added.
IOL