Miano pitches Kenya as a strategic partner for Canada
Business
By
David Njaaga
| Feb 21, 2024
Kenya is wooing investors from Canada to explore the vast opportunities in various sectors of its economy.
Investments, Trade and Industry Cabinet Secretary Rebecca Miano conveyed the sentiment as she addressed the 2nd Canada-Africa Business Forum held in Nairobi on February 19.
"Kenya is indeed the place to invest. Besides the strategic geographical location, the ever-growing and modern infrastructure, the young, skilled and hardworking human resource and the beautiful tourist, social and cultural diversity, Kenya is ready and open for business," she said.
Miano, who was accompanied by President William Ruto and other dignitaries, said Kenya was the gateway to Africa and a strategic partner for Canada.
She highlighted the various initiatives that the ministry had undertaken to improve the business environment and expand market access for Kenyan products and services.
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The Cabinet Secretary cited the recent signing of the Kenya-UK Economic Partnership Agreement, the Kenya-US Economic Partnership Agreement, and the ongoing negotiations for the Kenya-US Strategic Trade and Investment Partnership Agreement (STIP) as examples of Kenya's commitment to enhancing trade relations with its partners.
She also mentioned Kenya's active participation in the Africa Continental Free Trade Agreement (AfCFTA) and the East Africa Community (EAC), which had recently admitted Somalia as a new member state.
Miano said the ministry was also promoting manufacturing, especially in the automotive and green sectors, in line with the government's Bottom-up Economic Transformation Agenda.
She said the ministry had formulated an automotive industry development policy that would boost local production and drive e-mobility agenda for the country.
Miano added that the ministry was also focused on establishing green energy-powered Special Economic Zones in Naivasha and Dongo Kundu, using geothermal and hydrogen energy respectively.
She also assured the Canadian investors of the ministry's support in facilitating and supporting their investments in the country.
"Kenya has a diversified economy that provides investment opportunities in multiple sectors. I am therefore particularly excited that this conference will focus on, among other sectors, the areas of medical care, infrastructure, energy, financing for Canada-Africa projects and FinTech development," she added.