The United States Ambassador to Kenya, Kyle McCarter, has been advocating for Kenya as a prime investment destination during the American Chamber of Commerce Business Summit in Nairobi.
McCarter highlighted the reasons why Kenya should be the preferred investment destination in the East African region.
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The ambassador, while addressing the summit attendees, said that Kenya offers a strategic location that provides investors with access to the East African region’s expansive market adding that Kenya is a hub of several multinationals in the region, which is evidence of the country’s potential as an investment destination.
“Kenya is the gateway to East Africa trade and offers an investment-friendly environment that has seen many multinational corporations set up their regional offices here,” said Ambassador McCarter.
The Summit which brought together American and Kenyan business leaders to explore investment opportunities and enhance commercial ties between the two countries, aimed at promoting business growth and development in Kenya and the region at large.
She also highlighted the country’s robust infrastructure, including the Standard Gauge Railway, Lamu Port, and Jomo Kenyatta International Airport, as evidence of Kenya’s commitment to facilitating trade and investment.
She went ahead to praise the Kenyan government’s efforts to eliminate unnecessary bureaucracy that has hampered investment in the past.
“Kenya has made significant strides in the ease of doing business by eliminating red tape and streamlining the investment process. The government has also set up various incentives such as tax holidays and duty waivers to attract foreign investors,” he added.
Ambassador McCarter also noted that Kenya’s young and educated workforce was a significant attraction to potential investors, pointing out that the Kenyan government had invested heavily in education, which has resulted in a high literacy rate and a skilled workforce.
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McCarter’s advocacy for Kenya as a prime investment destination comes at a time when the country is experiencing a surge in foreign investment, the government having made significant efforts to create an enabling environment for investors, resulting in several multinational corporations setting up shop in the country.
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