CS Miano showcases Kenya's potential to Indian investors
Business
By
David Njaaga
| Dec 06, 2023
Investments, Trade and Industry Cabinet Secretary Rebecca Miano has marketed Kenya as a lucrative destination for foreign investors, highlighting the country's stability, competitiveness, and innovation.
Miano made the remarks during a trip to India, where she accompanied President William Ruto and other government officials.
She urged Indian investors to take advantage of the opportunities that Kenya offers, saying that the country is not only politically and economically stable but also a gateway to many African markets.
"We have a stable economy. We have political and microeconomic stability. We are globally competitive. We are a gateway to many African countries," Miano said.
She added that Kenya has a young, trainable, and productive workforce, as well as excellent logistics and infrastructure. She cited the two prominent sea ports of Mombasa and Lamu, which are the largest and deepest in Africa, respectively.
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Miano also emphasized that Kenya has positioned itself as the Africa silicon savanna, with innovations such as MPESA and over 30 tech hubs and incubators to pioneer new technical solutions.
"Kenya has over 30 tech hubs and incubators to pioneer new technical solutions," she said.
On taxes, Miano wooed the investors by highlighting that the country has tax credits, duty exemptions, and special operating framework agreements.
During the visit, President Ruto discussed plans to have India Exim Bank's regional headquarters in Kenya, saying that it would boost trade and investment between the two countries.
"Kenya continues to attract international investors from all parts of the world as part of the Bottom-Up Transformation Agenda," he said.
The visit also resulted in several memoranda of understanding being signed in areas of technology, medicine and education.