Door is wide open to overseas investors

Kenyan government and the private sector are working hand in hand to encourage inflows

To attract foreign investors and entrepreneurs to Kenya, the country's private sector and the Kenya National Chamber of Commerce and Industry are fully committed to working with the Kenyan government to establish a regulatory system that facilitates a well-functioning market that protects the public interest.

As a chamber we emphasize our shared vision that supports national business and that does not create unnecessary barriers that lead to fragmentation of trade and investment flows. Instead we advocate a comprehensive and high-quality approach to business that benefits our economies, supports businesses and meets the needs of various business stakeholders.

Improving national business will not only benefit foreign investors and attract foreign direct investment but will also benefit domestic companies. The chamber of commerce is at the forefront of business program improvements, and with others is lobbying national and county governments to continuously improve the business environment under their jurisdiction.

With the support of key government agencies and other partners, we are not only addressing specific problems and improving our national performance in business, but also providing feasible solutions to the challenges in the private sector.

Challenges such as starting a business, dealing with construction permits, registering properties and paying taxes have become a lot easier, and business is being simplified with the help of public-private sector enterprise dialogue.

Improving connectivity and infrastructure is critical in fostering trade.

In Kenya, the establishment of an improved supply chain and connectivity is being done through developing core infrastructure such as roads, port facilities, airports and industrial parks. This will reduce logistics costs by securing seamless surface transport, thus strengthening connectivity and making the country more attractive as an investment destination.

The government is now investing in and supporting a number of projects such as a telecoms network, a rail network, an improved freeport in Mombasa, a new port and an expansion of Jomo Kenyatta international airport, to name but a few big projects. All these will help businesses operate more efficiently and generate economic growth. The free ports will facilitate the import and export of goods in and out of Kenya and support the country to establish itself as a prime transshipment center in eastern and central Africa, creating new export-oriented activities.

The private sector is working with the Kenyan government to promote efficiency to tackle the challenges of energy security, climate change and economic development by deploying cleaner and more energy-efficient technologies. We encourage partners to accelerate this work, thereby creating opportunities for energy savings across the country to promote national competitiveness.

Kenya's public and private sectors are working together to build a successful relationship with other parties in key areas that support high technologies and infrastructure development to promote national competitiveness.

Kenya provides an economic environment that gives legal guarantees, transparency and predictability, and a spirit of competition that encourages investment in areas including agribusiness, education, energy, hospitality, infrastructure development, information and communications technologies, mining and transport.

The author is group managing partner of Walulu & Associates.

(China Daily Africa Weekly 12/05/2014 page10)