President Uhuru Kenyatta has assured global investors that Kenya is open and safe for business. Speaking when he launched celebrations to mark the Kenya National Day at the Expo 2020 Dubai, President Kenyatta said his administration has put in place a legal framework for investment that provides adequate investor protection in line with most international standards including safeguards for property rights.
He added that Kenya enjoys political and economic stability, a fully liberalized economy, a large domestic consumer market, a youthful, skilled and productive labor force as well as a modern infrastructure network. “These attributes have made Kenya the location of choice for multinational companies and a leading destination for foreign direct investment in the region,” the Head of State said as he kicked off activities to showcase Kenya’s rich cultural and economic diversity at the global exposition. A total of 192 countries are participating in the six-month world exposition in Dubai, with every country allocated a national day of honor.
At the same time, President Kenyatta reiterated that Kenya is keen to build new trade relationships with the Gulf Cooperation Council states and other countries participating in the expo. “We seek to harness the opportunities offered by this expo to build new business partnerships, attract new investments and bring tourists to Kenya to enjoy our world-renowned attractions,” the President said. Noting the goals Kenya’s Vision 2030 which include transforming Kenya into a newly industrializing middle-income country by the year 2030, the President said trade, investment and strong partnerships with the private sector are key in realizing the vision.
He expressed confidence that as the largest economy and business hub with sufficient capacities in trade facilitation and logistics to service over eleven hinterland countries in the Eastern and Central Africa region, Kenya is in a strong position to expand its trade and economic horizon for the benefit of its people. “It is against this background and in the spirit of Vision 2030, that we are here, to promote business-to-business partnerships and establish linkages between private and public sector institutions,” President Kenyatta.
In his speech at the Kenya flag-hoisting ceremony, UAE Minister of Tolerance and Coexistence His Highness Sheikh Nahyan bin Mubarak Al Nahyan who is also the and Commissioner General of the Expo 2020 Dubai said Kenya and the UAE enjoy boast of a strong relationship based on shared values and vision since its establishment in the early 1980s. “We are pleased to be among Kenya’s top trading partners globally,” Sheikh Al Nahyan said, terming President Kenyatta’s presence at the exposition as a reflection of the strengthen of the close ties between the two countries.
The UAE Minister welcomed ongoing discussions to establish a new framework for cooperation in a wide range of areas of priority to the two countries including food production, infrastructure, digitization and renewable energy. Sheikh Al Nahyan commended Kenya’s pavilion at the expo, saying under the theme “feel the energy of Kenya” the pavilion provides an opportunity for the world to discover Kenya’s economic potential and gives an insight into key sectors such as agriculture, innovation and tourism. Later at an interview at the Expo 2020 Dubai grounds, President Kenyatta expounded on the available opportunities for global investors in Kenya ranging from agriculture, green energy and manufacturing.
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