State urges firms to embrace partnerships

By Fredrick Obura

The Government is calling on foreign investors to partner with local companies before setting up operations in the country.

Trade Minister, Amos Kimunya, said this would help them understand the Kenyan market, and avoid pitfalls that have seen many collapse soon after they are established.

"It is the local people who understand this market best. They know avenues which, if followed, could lead to stability and massive growth," he said.

Kimunya encouraged more investors to come into the country, since negotiations for the East African common market are winding down, and the treaty will open up new markets for firms operating in the EAC.

The Minister said the Government, through the Kenya Ports Authority, was destroying goods, which are not genuine, in a bid to curb the counterfeit scourge in the country. Kimunya further urged dealers to help the Government identify the culprits.

He made the remarks during the launch of LG mobile business entry in the Eastern Africa region, an initiative that reaffirms LG Electronics commitment in the developing telecommunication market in Africa.

Eastern Africa consumers are becoming more aware of the global technological trends in the telecommunications industry. This has raised the demand for innovative mobile handsets for all consumer segments.

LG announced its highest everthird quarter earnings in history last month, with $3.75 billion in global sales.

 

 

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