Nairobi Is The Only African City In Global Investors Top 5 Watch List
Kenya’s capital, Nairobi has been listed as the only African city in the global investors top 5 watch list, with major companies opting for it as a natural starting point in entering or expanding to new regions for investment.
This has resulted to Kenya’s Gross Domestic Product (GDP) accounting for more than 50pc of the region’s total economy from investment facilities such as Mombasa Port and Standard Gauge Railway (SGR) which serve the whole country.
The government has packaged incentives for investments such as direct import from China, special economic and export zones and joint ventures and partnerships, KenInvest General Manager, Pius Rotich told investors while Speaking at the Kenya-China Business Forum in Nairobi. “Investors should pay their required investment targets and taxes for them not to come into loggerheads with the government because Kenya’s business environment has improved.”
The GM firther said that through the Mombasa Port, Kenya and China can import textile, construction and manufacturing products as well as export agricultural products.
Rotich insists that the Kenya Investment Authority (KIA) provides a wide range of pre-investment facilities in order to mae sure investors benefit, they include economic zones setup, obtaining work permit, visas and tax registration.
The Wuxi Municipal People’s Political Consultative, Ye Qin Liang, said that the driving force for economic growth in Kenya is mining, agriculture and manufacturing industries leading to many Chinese businesspersons investing in Kenya. The country is also financially sustainable because of its political stability thus enhancing currency fluctuation in terms of dollars.
Qin Liang said that China has become Kenya’s major investment partner being the main exporter of ceramic products, electronic devices footwear as well as furniture.