New regulations to boost Kenya’s business environment

Investors have been called on to take advantage of the friendly business environment in the country.

Nominated Principal Secretary for Industrialization Julius Korir said the Government is in the final stages of implementing the Special Economic Zones Act 2015 that is tailored to attract investors.

The Principal Secretary said the act will provide incentives to investors to enable them establish their business with ease in specified regions.

“We are working on the regulation which should be ready by the end of the month. That will provide a one stop shop for investors,” he said.

Mr Korir said the act will reduce the time it takes to register property in the country.

Similar sentiments were echoed by Deputy President William Ruto who said the Government is working towards consolidating all licensing of investors in one place.

Mr Ruto called on local investors to invest in their counties before seeking foreign investors.

“Investors not only need to be white, foreign or rich. We need all; local and foreign ideas”, said the Deputy President at the firs Narok International Investment Summit held at Maasai Mara Game Reserve, Narok County

Mr Ruto said the Government had enacted necessary laws to make Kenya the most preferred investment destination.

He said the Government had invested heavily in security, infrastructure and energy, a move geared toward expanding industrialization of the country.

Mr Ruto said the Standard Gauge Railway will significantly reduce the cost of transport while competitive energy cost will enable investors produce products at cheap prices.

He said the National Government will collaborate with county governments to safeguard the gains of devolution.

He, however, cautioned businessmen who engage in corrupt deals that their businesses will be blacklisted. 

Tourism Cabinet Secretary Najib Balala said Kenya will focus on heavily marketing the tourism sector to return it to its previous status.

Narok Governor Samuel Tunai called on the government to establish an immigration post at the Kenya/Tanzania border to allow tourists to move freely across the border.