1 President Uhuru Kenyatta has assured the government’s commitment to providing an environment conducive to investment, saying that significant progress has already been made in making the country a dynamic and vibrant economy in East and Central Africa.
3 The president noted that the government’s focus on key reforms across the spectrum of financial and business services has boosted the country’s position as a hub for international financial services.
4 “In pursuit of this goal, I can say with confidence that we have not only tried, but succeeded in cementing Nairobi’s pride and place on our path to being the international financial services hub envisioned in our Vision 2030,” he said. President Kenyatta.
6 President Kenyatta expressed his satisfaction that the Nairobi International Financial Center has been designed as an efficient and predictable business environment to provide more confidence to large global capital groups that have been watching Kenya’s progress but have not yet taken action. decision to invest.
7 “We know that investors have options and we want them to actively choose Kenya. The Center has played and will continue to play an important role in promoting the initiatives outlined above to target investors,” said President Kenyatta.
8 The Head of State emphasized that through the International Financial Center, the Government will create an ecosystem that supports the financial structuring of businesses in the country.
9 The president cited the full automation of business registration services, the automation of land registration processes, the adoption of electronic filing and payment services in the High Court as some of the reforms that have helped create an enabling environment for businesses to prosper. .
10 “In the same way, we have automated and streamlined the payment of taxes and redesigned the import and export processes, in order to reduce costs and improve the efficiency of our ports,” said the President.
11 President Kenyatta said the country’s ecosystem of green economy institutions and business innovators has already created momentum through the development of the green bond framework in Kenya.
12 The president noted that the center’s focus on attracting green financing is also a strategic enabler of the country’s broader green economy strategy, including developing green manufacturing capacity by connecting energy-intensive manufacturers with renewable energy sources. cheaper renewables.
13 He added that the National Treasury is working closely with key stakeholders to deepen domestic debt markets and improve pricing and efficiency to reduce the cost of capital for green project development.
14 “These, among other attractions, provided a good reason for Google to open its first African Product Development Center in Nairobi earlier this year. Microsoft has already opened a $27 million technology hub in Nairobi.
15 “In November last year, the President of the European Investment Bank was in the country to officially open the Bank’s regional center which will cover eleven countries in East and Central Africa. VISA also opened its first African Innovation Studio in Nairobi,” said President Kenyatta.
16 He challenged the center to attract investment that would otherwise not have been committed by accelerating the development of an enabling investment framework that supports economic growth.