First Lady Rachel Ruto has urged US investors to take advantage of Kenya's strategic position as the gateway to East Africa, to trade with the country and the region.
She said the business community should partner with the government to implement development projects envisaged in the Bottom Up Economic Empowerment plan.
She noted that the government is keen on agriculture, MSMEs, housing and settlements, manufacturing, the digital superhighway and creative economy, and environment and climate action, as some of the priority sectors for growth and development.
“Investors are invited to explore the opportunities in these sectors and take advantage of Kenya's young and vibrant population, improved infrastructure, and supportive investment climate,” she said.
The First Lady spoke during a business dinner hosted by Life Bridge Global in Dallas, USA, attended by business leaders.
Life Bridge International is a non-profit organization based in the United State, which seeks to help improve the quality of health of communities worldwide, particularly in developing countries.
Kenya is ready for business and has moved from aid to trade in its engagement with development partners, she affirmed.
She shared President William Ruto-led government's Bottom Up, Economic Transformation Agenda 2022–2027, which aims to transform Kenya into a prosperous and productive country.
The first lady also stressed the importance of environmental and climate action, particularly in the face of prolonged drought.
Since taking over, President Ruto has aggressively marketed Kenya to US investors, amid ongoing talks on the Strategic Trade and Investment Partnership (STIP).
The government is committed to creating a conducive environment for businesses to operate, President Ruto told investors during the American Chamber of Commerce, (AmCham) business summit in Nairobi, in March.
To make Kenya more attractive, the President assured investors of a more predictable tax regime noting private sector players make long-term investments decisions in an environment with predictable policies, among them tax policies.
“This policy that will enhance transparency in our tax regime will take effect by June 2023 and will now be in place for a minimum of three years,” Ruto said.
Kenya is hopeful of sealing a trade deal with the US by the end of this year, according to Investment, Trade and Industry CS Moses Kuria.
