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US urged to explore local investment opportunities

11 July 2014, 11:22

Nairobi - Foreign Affairs Cabinet Secretary Amina Mohamed has encouraged American investors to explore Kenya and make the most of a vibrant economy that promised good returns.

Speaking during the “Doing Business in Kenya Forum”, Mohamed assured investors that Kenya was conducive for investments and had continued to be rated favourably by various international rating agencies based on the strong reforms that the government had implemented.

 She cited the recently-released Global Competitiveness Report 2013/14, which rated Kenya among the top 100 most competitive countries in the world, having made the most improvement in Africa.

She also cited last year’s World Bank’s annual Country Policy and Institution Assessment Programme that rated Kenya the best country in Sub Saharan Africa in terms of institutional quality and policy making reforms for poverty - reducing growth.”

Mohamed assured investors that Kenya’s economy remains resilient as demonstrated by the expansion of overall economic activity by 4.7 percent in 2013, adding that the economy is projected to grow by 5.8 percent and 6.4 percent in 2014 and 2015, respectively.

The cabinet secretary attributed this growth to far reaching structural reforms the government has implemented as well as sound economic management.

“I want to assure you that the economic growth prospects remain very strong due to continued implementation of bold economic policies, governance and structural reforms as well as new constitutional dispensation,” said Mohamed.

Mohamed applauded the continued engagement of the American private sector to Kenya.

She further said Kenya was keen to expand and upgrade infrastructure in order to deliver the required efficiency in terms of time and cost to facilitate trade and investment.

“This is important to our intention to attract and sustain private sector investments in critical sectors of the economy. Likewise the government is reviewing the policies, process and systems to ensure Kenya secures a leadership role as a regional trade and investment hub,” she said.

 – CAJ News

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