Kenya launches investment month at Milano Expo 2015

East African Affairs, Commerce and Tourism Cabinet Secretary Phyllis Kandie during the media briefing on the Milan Expo 2015.

Kenya has launched an investment month at the World Expo 2015 in Milan, Italy as part of events to ensure the country remains the top tourist destination in Africa and a compelling region for trade and investment.

The East African Affairs, Commerce and Tourism Cabinet Secretary Phylis Kandie launched the investment month asking the private sector to actively participate in the expo to showcase the country’s potential.

“The month of July has been designated as the investment month and the focus will be promotion of Kenya as an investment destination,” she said at a media briefing at her office on the ongoing Milan Expo 2015.

The Milan expo, which takes place every five years, brings together investors from across the world for six months. Kenya has been participating at the expo with each month dedicated to specific themes ranging from export, tourism, investment, culture and agriculture.

Investment options

Kenya is taking part in the expo, which started on May 1, and runs until October 30, 2015, under the theme is “Unlimited possibilities”. It has a pavilion within the Expo and Kenya House in Milan’s Business district. Both are used to showcase investment otions.

Ms Kandie also disclosed that Italian investors want the government to expand the Malindi airport to allow more direct flights into the region. The investors, she added, believe this development would also allow bigger jets land at the airport, therefore, boosting tourism in the coastal region.

The Italian community is known for the love for investment in the resort town of Malindi for the past 35 years since they first jetted in for holiday. This is because the pristine and golden sandy beaches have proven an irresistible attraction to Italian holidaymakers who have often included billionaires, world known celebrities and politicians ready to pay heavily for the privacy and peace found in Malindi.

Kandie also called upon the Italian investors to consider investing in holiday homes and value addition in the country in a bid to diversify tourism products in Kenya.

“Italy is famed for value addition in foods, a situation Kenya can build on to create more jobs in the country as they form partnerships to come up with innovative ways to add value to their produce,” she said.

Kandie said the Government is ready to deploy swift measures to revamp tourism, which has in recent months been going through lean times.

“We are adopting aggressive marketing strategies not only to promote domestic tourism but also to improve our image in the eyes of the international community,” she said.

According to Kandie, activities of the investment month will have various components that will seek to engage with potential investors Kenya’s investment Environment , offer advisory services on investment opportunities in Kenya, develop relationships with investment promotion intermediaries in Europe and offer preliminary facilitation of investors who wish to begin the investment process.

Italy is the ninth largest economy in the world, it is part of the European Union, which collectively represents the largest economic zone in the world.