Ruto to Japanese investors: Invest in Kenya, access over 1.4 billion customers

President assured the Japanese traders of a good return on investment

In Summary

• According to the President, the talks centred around coming up with accelerated ways of promoting Kenya-Japan trade and investment.

• The President added that investing in Kenya will also give them access to regional markets with more than 1.4 billion consumers.

President William Ruto during a meeting with the Japan External Trade Organisation on February 8, 2024.
President William Ruto during a meeting with the Japan External Trade Organisation on February 8, 2024.
Image: PCS

President William Ruto has disclosed details of his meeting with the Japan External Trade Organisation on Thursday.

According to the President, the talks centred around coming up with accelerated ways of promoting Kenya-Japan trade and investment.

Ruto assured the Japanese traders that investing in Kenya would give them a good return on investment, especially in areas of renewable energy, manufacturing and agriculture, among others.

The President added that investing in Kenya will also give them access to regional markets with more than 1.4 billion consumers.

"Investing in Kenya will offer Japanese enterprises access to the East African Community (EAC), COMESA, the Tripartite Free Trade Area and Africa Continental Free Trade Area markets of more than 1.4 billion people and a combined GDP of $3.4 trillion.

"A good return on investment is guaranteed, especially in our renewable energy, manufacturing, agriculture and technology sectors," Ruto said.

During the meeting, the Head of state also witnessed the signing of an MoU between the National Treasury and Nippon Export and Investment Insurance.

He said the new partnership will strengthen ties for industrial development and green growth as well as promote Japanese companies in Kenya.

Ruto left the country on Tuesday evening for a four-day official visit to Japan. 

On Wednesday, the President witnessed the signing of Kenya and Toyota Tsusho Corporation of Japan framework agreement for collaboration in vehicle manufacturing and renewable energy development.

He later met Kenyans living in Japan, where they engaged on various issues affecting them and the country together.

During the visit, Ruto will also engage in a series of bilateral meetings with the Japanese top leadership.

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