President Ruto: We have a conducive climate for foreign investment

President William Ruto speaks during an investment forum and engagement at the Silicon Valley in San Francisco, United States, on September 15, 2023. PHOTO | PCS
President William Ruto has said Kenya is
committed to attracting quality foreign investments in the country.
He noted that the Government is pursuing
ambitious reforms that will turn Kenya into a regional business hub.
The Head of State cited the installation of a
pro-business tax regime as one of the means through which the Government aims
to courting foreign investments.
“A more investor-friendly environment will
allow businesses to innovate, thrive and create more economic opportunities for
the people,” he said.
He made the remarks on Friday during an
investment forum and engagement at the Silicon Valley in San Francisco, United
States.
President Ruto said Kenya had upgraded its
data protection regulations in line with the Global Cross-Border Private Rules
framework, was secure, home to green energy and good infrastructure.
“We have also eliminated VAT on exported
services and abolished tax on stock-based compensation for employees of
start-ups,” he said.
He assured global firms of Kenya’s ample
supply of energetic, gifted and skilled human capital “who are responsible for
driving the country’s tech sector”.
“We continue to develop a workforce fit for
the changing world,” said Ruto.
The Head of State pointed out that Kenya is
also supporting entrepreneurs through the creation of a digital hub in every
ward.
“This will offer learning and innovation to
more than one million talents. This incredible talent pool will serve your
businesses.”
US Ambassador to Kenya Meg Whitman, British
Robinson, Coordinator Prosper Africa, several investors and captains of
industry attended the forum.
Ambassador Whitman said Kenya is the most
stable democracy in East Africa, regional logistics and leading financial hub,
gateway to the East African market, key destination for foreign direct
investment and venture capital.
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