Kenya’s favorable business environment attracts numerous investors, leading to economic growth and job creation. CEO John Mwendwa highlighted ongoing investments in Special Economic Zones, while Dr. Kenneth Chelule noted significant potential in medium and small enterprises. Additionally, Preston Mendenhall reported substantial job creation at Tatu City, emphasizing the trend of increasing investments in the country.
The conducive business environment in Kenya continues to attract a growing number of investors, resulting in numerous economic opportunities, as indicated by John Mwendwa, Chief Executive Officer of the Kenya Investments Authority. During the launch of The Link Warehousing and Logistics Park in Ruiru, Kiambu County, Mwendwa noted that various investors are setting up extensive operations within Special Economic Zones and Export Processing Zones, which in turn generates significant employment opportunities.
Mwendwa acknowledged that while some companies may be relocating due to competition, many others are investing heavily in Kenya. He emphasized that the government’s efforts to cultivate a favorable business climate and lower operational costs are yielding positive results. “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 multibillion investments in the country,” Mwendwa stated, highlighting the ongoing influx of investments.
Echoing this sentiment, Dr. Kenneth Chelule, Chief Executive Officer of the Special Economic Zones Authority (SEZA), underscored the vast potential for growth, especially in medium and small enterprises. Over the past three years, more than 40 economic zones have been established, allowing for over 90 businesses to become fully licensed and operational within these zones. Chelule pointed out the major opportunities, particularly at the new Logistic Park in Tatu, with over ten companies expected to establish operations.
Furthermore, Preston Mendenhall, Chief Operating Officer of Rendezvous, which oversees Tatu City, reported an increase in the number of companies within the industrial park to 100, with a continuing upward trend. He highlighted the job creation stemming from this expansion, noting that over 25,000 jobs, encompassing a range of skill levels and sectors such as manufacturing and warehousing, have been generated in the last five years.
Overall, Kenya’s strategic positioning and supportive government initiatives are proving effective in fostering a robust business landscape that not only attracts investment but also significantly enhances job opportunities for the local populace.
In conclusion, the positive business climate in Kenya is a compelling draw for investors, as articulated by the leadership of the Kenya Investments Authority and the Special Economic Zones Authority. The establishment of new economic zones and logistical parks not only boosts job creation but also opens avenues for various enterprises to thrive. Continuous government support in reducing operational costs further solidifies Kenya’s appeal as an investment destination.
Original Source: www.kenyanews.go.ke
