Investors urged to seek government guidance on County deals
10 July 2014, 13:44
Nairobi - Trade and Tourism Cabinet Secretary Phyllis Kandie has urged US investors to involve the national government in their investment transactions with governors and other county leaders.
Speaking to more than 150 investors in Washington, DC, Kandie urged them to seek advice from the Ministry of Foreign Affairs to ensure that the sealing of business deals is done within the law.
She said legally, county leaders cannot offer tax relief to investors, except on property tax adding that they can only offer free land upon approval by their respective county assemblies, Daily Nation reports.
It is understood that in some cases, counties have offered incentives to investors that they cannot pull through with, which has led to numerous complaints being received by government.
“It is important that we have clarity on what incentives can and cannot be offered, as well as ensure that they are all within the boundaries as provided by Kenyan law,” she said.
Kandie is in America on a mission to sell Kenya as an investment destination.
Meanwhile, the national government will at the end of July 2014 hold a conference with governors to try to agree on the incentives they can extend to investors.
- For more visit Daily Nation
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