Kenyatta ends India visit with an eye on investment at New Delhi forum

By AT editor - 13 January 2017 at 3:56 am
Kenyatta ends India visit with an eye on investment at New Delhi forum

President Uhuru Kenyatta on Thursday ended his official visit to India with a business forum in New Delhi, where he chaired a meeting with Indian business leaders focused on investment in Kenya.

Kenyatta urged Indian firms to establish operations in Kenya, which can serve as a “launch pad” to access markets in eastern, central and southern Africa.

He listed the textile industry, infrastructure, medical equipment and  pharmaceuticals as some of the sectors open for investment, according to a summary posted on his official website.

“I just want to repeat that Kenya offers a highly conducive business environment,” Kenyatta said during the Kenya-India Business Forum. “We are the third most improved country in the 2016 World Bank Ease of Doing Business indicators, owing to strong reforms in the areas of starting a business, obtaining access to electricity, registering property, protecting minority investors and resolving insolvency.”

A resolution passed by the Indian business community promises the hope of future Indian investment. A Memorandum of Understanding (MoU) was signed to establish a joint business council between the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Kenya National Chamber of Commerce and Industry (KNCCI).

During his state visit, Kenyatta held bilateral talks with Prime Minister Narendra Modi that led to a $100 million line of credit extended to Kenya for agricultural equipment grades, and an MoU on cooperation to improve the agricultural sector. India also agreed to support construction of a cancer treatment facility in Nairobi.

Image: President Uhuru Kenyatta

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