The government of Kenya is creating a friendly environment that will attract more foreign investments to Kenya, president William Ruto has said after hosting a delegation of Saudi Arabia investors at State House in Nairobi.
Ruto added that his administration will also routinely refine its policies to make it more facilitative for businesses to operate in the country.
“We will keep engaging with investors so as to make our laws more pro-business. This will spur their growth.” Ruto noted.
The delegation from Riyadh was led by the Saudi Arabia Minister of Investment Khalid Al Falih and comprised of 30 major firms making it one of the largest single business group ever to undertake a visit to Kenya.
President Ruto noted that Kenya is strategically located, making it easy for businesses to access the lucrative markets in the region and Africa in general.
He said the African Continental Free Trade Area (AfCFTA), of more than 1.4 billion, also offers broader opportunities for their goods and services.
The President further told the meeting that Kenya has a democratic system with a sound footing of the rule of law that protects investors.
“This means when you set up in Kenya, markets for your products are limitless. You will get value for your investment.” He added.
He cited ICT, leather, transport, renewable energy, housing, blue economy, agriculture, among others, as some of the ripe investments in the country.
The Head of State explained that the current balance of trade favours Saudi Arabia.
“That is why I encourage you to participate in enabling Kenya correct this imbalance by locating more industries here.”
Among other senior government officials present were Cabinet Secretaries Moses Kuria (Minister for Investments, Trade and Industry), Davies Chirchir (Energy) and Florence Bore (Labour) among others.
