The conducive business environment in Kenya is attracting significant investments, creating economic opportunities and jobs for citizens. John Mwendwa, CEO of the Kenya Investments Authority, confirmed that while some firms relocate due to competition, many others are establishing multi-billion dollar projects in Special Economic Zones. The growth of small and medium enterprises is supported by numerous new investments in these zones, further enhancing the country’s economic landscape.
The conducive business environment in Kenya is successfully attracting investment, as highlighted by John Mwendwa, the Chief Executive Officer of the Kenya Investments Authority. He emphasized that the country’s favorable conditions have resulted in both increased investor interest and significant economic opportunities for citizens. Investors are establishing multi-billion dollar projects within Special Economic Zones and Export Processing Zones, contributing to job creation.
During the launch of The Link Warehousing and Logistics Park in Tatu City, Ruiru, Kiambu County, Mr. Mwendwa acknowledged that while some companies are relocating due to competition, many others are significantly investing in Kenya. He affirmed the government’s commitment to fostering an encouraging business climate and reducing operational costs to draw more investments into the country.
Dr. Kenneth Chelule, Chief Executive of the Special Economic Zones Authority, supported this perspective by stating the potential, particularly for medium and small enterprises, remains vast. He reported that over 40 special economic zones have been initiated in the past three years, facilitating 90 fully licensed business enterprises operating in these areas.
Dr. Chelule also referenced the promising developments at the new Logistic Park in Tatu, where more than ten new companies are expected to launch operations, raising the total number of investments in the zone to over 100. He mentioned the upcoming signature of substantial lease deals in Dongu Kondu and Naivasha, indicating further opportunities for local businesses in the Special Economic Zones.
Preston Mendenhall, the Chief Operating Officer at Rendezvous, which manages Tatu City, reported that the number of companies operating within the industrial park has reached 100 and continues to rise. Over the past five years, these ventures have generated more than 25,000 jobs across various sectors, including manufacturing, warehousing, and distribution, thus enhancing the economic landscape in Kenya.
In summary, the favorable business conditions in Kenya are effectively attracting investor interest, leading to extensive economic opportunities for local citizens. With significant investments made in Special Economic Zones and Export Processing Zones, both job creation and enterprise growth are on the rise. The government remains committed to improving the business environment, which continues to yield positive results within the economy.
Original Source: www.kenyanews.go.ke
