Kenya ranked seventh best place to Invest in emerging markets

President Kenyatta and Cabinet Secretary, East Africa Affairs, Commerce and Tourism Ms. Phillis Kandie during the Kenya International Investment Conference at the Kenyatta International Convention Centre last year. (PIX: Courtesy)

Kenya has been ranked as one the seven top investment destinations to watch in emerging markets by Fortune magazine.

The ranking takes note of the massive efforts being made in infrastructure development, the power sector and the improving macro-economic stability.

Commenting on the rankings, the Cabinet Secretary for Industrialization and Enterprise Development Mr. Adan Mohamed said: “We are seeing growing confidence by global investors in our country, something that we are proud of. The reducing cost of doing business and stable macro-economic environment continues to make a clear signal that Kenya is ready to do business with the world and we are delighted that investors are showing increasing confidence in our country.”

Kenya has embarked on an ambitious programme to address challenges on the ease of doing business and has set up a delivery team to make the country a world class investment destination.

The Ministry of Industrialization and Enterprise Development is leading the Business Climate Reform agenda and is working with various government agencies.

Kenya made the cut to the special list of 7 that has India, Malaysia, Indonesia, Mexico, Poland and Colombia.

Last year, the government established a one-stop centre, housing all regulatory arms of government to ease entry of investors.

The centre will provide timely, effective and efficient government services to investors to enhance and encourage their participation in economic development.

During his remarks while opening the conference, that was held at the Kenyatta International Convention Centre, President Uhuru Kenyatta said the centre located at the Kenya Investment Authority (KenInvest) headquarters in Nairobi will host all the Government ministries so as to enable investors’ scouting for business opportunities to benefit from information under one roof.

Uhuru stated that the creation of the centre is part of a Government resolution to reduce cost of doing business.