Come invest in Kenya, Amina tells US forum
What you need to know:
- During his first state visit to the US at an Africa leaders summit next month, President Kenyatta is expected to further pursue closer business ties with the nation.
- The United States has traditionally not been among Kenya’s largest trading partners. However, recent trends indicate that the country is increasingly becoming a key source of investment and trade for Kenya.
Kenya is wooing American businesses to invest in key national facilities and to boost trade volumes between the two countries.
Ministry of Foreign Affairs Cabinet Secretary Amina Mohamed Thursday made presentations to a group of investors during a Doing Business in Kenya forum in Washington, DC.
She said Kenya’s “vibrant economy” as well as ongoing public reforms were a guarantee of “good returns” for investors.
“I want to assure you that the economic growth prospects remain very strong due to continued implementation of bold economic policies, governance and structural reforms as well as a new constitutional dispensation,” Ms Mohamed said, according to a government press statement.
On its website, the Corporate Council on Africa, which organised the event, said that the Cabinet Secretary presented the government’s 45 priority Public Private Partnership (PPP) projects as ripe for American investment.
The United States has traditionally not been among Kenya’s largest trading partners. However, recent trends indicate that the country is increasingly becoming a key source of investment and trade for Kenya.
Institutional investors from the US accounted for over 60 per cent of uptake on the two tranches of Kenya’s recently issued sovereign bond.
Additionally, data from the Kenya Economic Survey indicate that the volume of trade between the two countries rose 94 per cent between 2008 and 2013.
Security matters
During his first state visit to the US at an Africa leaders summit next month, President Kenyatta is expected to further pursue closer business ties with the nation.
In an interview with the Nation, Ms Mohammed said the president will promote trade and tourism.
Cooperation on security matters will also be a top priority. President Kenyatta is also due to hold talks with business executives in yet another forum organised by the Corporate Council.
