One-stop centre for processing business permits to be set up

The government will set up a one-stop centre for investors to get approvals and permits for setting up businesses in a move meant to attract more investment in the country.

The centre will help to cut the time taken by investors, both local and foreign, in setting up and complying with regulations to operate businesses in Kenya.

It will be housed under the Kenya Investment Authority (KenInvest), the agency mandated to promote the country as a preferred investment destination.

President Uhuru Kenyatta yesterday said more than 50 senior government officials with sufficient authority to make decisions will be deployed to the centre to shorten the approval processes.

“We cannot continue with the red tape we currently have in this process. It is a discouragement in itself to investors. I have directed the ministries involved to hasten this process.

“Investment is key to our economy.  Without it, we cannot create the jobs that will sustain our young men and women or relieve the poverty that still disfigures the lives of our people. Removing obstacles that still stand in the way of productive investment is important,” said Mr Kenyatta.

Currently, an investor visits more than 10 different offices to get documents allowing him or her to set up a firm.

In some cases, it takes more than 90 days to acquire a single permit, licence or connection to water and electricity.

INVESTMENT OPPORTUNITIES

Mr Kenyatta was speaking at the first Kenya International Investment Conference, organised by the government in its efforts to encourage investors to put their money in local ventures.

The two-day forum has attracted investors from different parts of the world, including the United States, the United Kingdom, Australia and Egypt.

More than 1,000 investors are taking part.

During the conference, visitors will be taken through some of the lucrative investment opportunities in the country, as well as initiatives by the government that could significantly improve the business environment.

Mr Kenyatta asked foreign investors to take advantage of the country’s position as the regional economic hub and the gateway to Eastern Africa.

“We have a very good workforce, really innovative youth, good infrastructure, conducive climate and our economy is growing. There is no reason to keep you away from this country if you are looking for a place to invest,” said the President.

He also called on the British government and other western nations to help change the perception that Kenya is an unsafe place by lifting negative travel advisories.

Kenya Private Sector Alliance chairman Vimal Shah said the government had made deliberate efforts to ease the business environment through constant consultations between investors and the Executive.

“We now hold biannual meetings with the President and his Cabinet to discuss policy and other possible ways of making our country a better investment destination,” said Mr Shah.

He said that for global investors, time has come when the question about investing in Africa has changed from whether, to where.

“It is for us now, as Kenyans, to take advantage of our resources and make sure money comes here first before spreading to the rest of the continent,” added Mr Shah.