Kenyatta assures Indian investors of favourable business environment

Kenyatta assures Indian investors of favourable business environment


President Uhuru Kenyatta has assured Indian investors of a conducive business environment in Kenya.

He said his government has streamlined policies and removed hurdles that escalated the cost of doing business in the country.

“So long as you follow Kenyan rules and regulations, the country is free for you to do business. It is no longer a matter of who you know in government,” said the president.

President Kenyatta spoke on Wednesday in New Delhi when he addressed a business forum that was attended by members of the Confederation of Indian Industry (CII) and the Kenya National Chamber of Commerce and Industry (KNCCI).

He cited the new Special Economic Zones Bill as one piece of legislation that is geared towards promoting the manufacturing sector in Kenya.

“We have put in place proper legislation that allows the manufacturing sector access to the domestic, regional and the international market.”

The president pointed out that Kenya has a variety of investment opportunities that allow Indian investors access to the vast East African Community (EAC), Common Market for Eastern and Southern Africa (COMESA) and African Growth and Opportunity Act (AGOA) markets in areas of textiles, leather and agriculture.

He challenged both Indian and Kenyan investors to forge close ties that would result in mutual beneficial partnerships as the two governments work on trade promotion.

“It is essential that the business community plays its rightful role while the government delivers on policy. It is for this reason that forums such as this one are critical as they provide an opportunity for businesses to meet, network and share experiences,” President Kenyatta said.

Confederation of Indian Industry Vice-President Naushad Forbes said Kenya’s improved business landscape was steadily attracting more Indian firms.

He disclosed that the companies were keen on setting base in Kenya as a regional business hub and gateway to the East and Central African region.
“The favourable business environment in Kenya is a catalyst for establishment of Indian companies in the country,” said Dr Forbes.

He said the Indian business community looked forward to linkages with their counterparts in Kenya, especially the small and medium sized enterprises.
Kenya also has highly skilled labour that would provide a win-win advantage for the Indian companies that would get quality labour while at the same time create jobs for Kenyan youth.

President Kenyatta arrived in New Delhi for his maiden visit to India on Tuesday where he was accorded an elaborate reception that included the traditional Indian red dot decoration.
The visit will see him hold talks with Prime Minister Narendra Modi and attend the third India-Africa Forum Summit

Newsweb Express


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