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Japan has promised to invest Sh1 trillion on infrastructure projects in Kenya and Africa in the next three years. And as the first step to the deal, President Uhuru Kenyatta and Japanese Prime Minister Shinzo Abe will today sign an investment agreement.
“We will also be initiating negotiations on a tax treaty,” Mr Shinzo said of the pact expected to be signed before he leaves. A tax treaty is an agreement that helps enhance cross border trade, by eliminating double taxation for incomes earned in either jurisdictions. Mr Abe’s pledge will specifically be directed in infrastructure, which could include developing of the second berth at Mombasa Port.
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