Favorable Business Environment in Kenya Attracts Investors, Says CEO

John Mwendwa, CEO of the Kenya Investments Authority, stated that Kenya’s conducive business environment is attracting investors and creating economic opportunities. The launch of The Link Warehousing and Logistics Park marks the establishment of significant investments in Special Economic Zones. Despite some firms relocating, many are investing heavily in the country, supported by the government’s commitment to improving the business climate.

In an address during the launch of The Link Warehousing and Logistics Park in Tatu City, Ruiru, Kiambu County, John Mwendwa, the Chief Executive Officer of the Kenya Investments Authority, emphasized that the favorable business environment in Kenya is a significant draw for investors. This conducive atmosphere continues to foster economic opportunities, creating jobs and supporting multi-billion-dollar investments in Special Economic Zones (SEZs) and Export Processing Zones (EPZs).

Mwendwa noted that while some businesses may be relocating due to competitive pressures, numerous others are actively establishing substantial investments in the country. “The notion that some companies are relocating due to a difficult business environment has not had a serious impact on business, as many more others are setting up multi-billion investments in the country,” he stated. He reaffirmed the government’s commitment to enhancing the business climate and reducing operational costs to bolster investor attraction.

Complementing Mwendwa’s comments, Dr. Kenneth Chelule, the Chief Executive of the Special Economic Zones Authority, highlighted the untapped potential, particularly within medium and small enterprises. Over the past three years, more than 40 special economic zones have been established, resulting in the licensing of over 90 enterprises within these zones, which now operate fully.

Dr. Chelule pointed out the significance of the Tatu Logistic Park, with over ten companies poised to start operations, contributing to the total investments within that zone surpassing the hundred mark. He mentioned upcoming lease agreements worth billions in Dongu Kondu in Mombasa and Naivasha zones, promising further opportunities for local businesses.

Preston Mendenhall, Chief Operating Officer at Rendezvous, which oversees Tatu City, remarked that the total number of companies operating at the industrial park has reached 100, with continuous growth anticipated. Over the last five years, these investments have created more than 25,000 jobs in various sectors, including manufacturing, warehousing, and distribution, thus enhancing the employment landscape in the region.

The establishment of multiple Special Economic Zones and the positive business environment in Kenya continue to attract significant investments, fostering job creation and economic growth. Leaders in the investment sector express confidence in the government’s commitment to reducing operational costs and enhancing conditions for businesses, ensuring that Kenya remains an attractive destination for investors. The collaborative efforts between the government and private sector partners are crucial in promoting economic development and leveraging the potential of medium and small enterprises within the country.

Original Source: www.kenyanews.go.ke