Visiting Swiss private investors have been urged to explore opportunities presented by the government’s Big Four development priority areas. The Kenya National Chamber of Commerce and Industry (KNCCI) president Richard Ngatia called for closer business cooperation between Kenya and Switzerland. Ngatia called for the establishment of a Joint Business Council between the private sector in the two countries.
He noted that the Africa Continental Free Trade Area Agreement (AfCFTA) presents unlimited opportunities for investors on the continent and abroad. There is an urgent need for the private sector to increase intra-regional trade and investment and deepen the economic integration within the region, he said. “We invite the Swiss Private Sector investors to consider doing business in Kenya and we will realise this through signing a Memorandum of Understanding (MoU) and establish a Joint Business Council,” Ngatia said. He spoke during the Kenya-Swiss Business Forum held in Nairobi on 12th November, 2019.
The sectors in the trade mission scouting for investment include; manufacturing, tourism, oil and gas, trade, blue economy, financial services and agriculture. The Jubilee administration has embraced social transformation in its development plans focusing on manufacturing, Universal Health Coverage, food security and affordable housing.
According to the World Bank Ease of Doing Business Index 2020 report released last month, Kenya ranked number 56 (up from 61) out of the 190 economies surveyed.
Kenya also scored top on protecting minority investors. The Swiss Private Sector delegation is led by State Secretary for Economic Affairs Marie-Gabrielle. They arrived in the country on Monday for a week-long trade mission. The Chamber has aligned its programme to support President Uhuru Kenyatta’s Big Four project in wooing foreign investors into the country.
It seeks to project the country on the global map as an investment hub.