Kenya’s president William Ruto on Friday, September 16 led Kenyan delegation in charming US investors during the Kenya – US Business Road Showat the Silicon Valley in San Francisco, United States.
Ruto who travelled to the U.S together with the US Ambassador to Kenya, Meg Whitman among other official’s committed to attracting quality foreign investments in to Kenya.
“A more investor-friendly environment will allow businesses to innovate, thrive and create more economic opportunities for the people,” Ruto stated.
During the Kenya – US Business Road Show, Ruto also noted that the government of Kenya is pursuing ambitious reforms that will turn Kenya into a regional business hub.
Friendly Business Environment
Further, Kenya’s Head of State also cited the installation of a pro-business tax regime as one of the means through which the government aims to courting foreign investments.
Ruto also stated that Kenya had upgraded its data protection regulations in line with the Global Cross-Border Private Rules Framework making it secure for investment.
“We have also eliminated VAT on exported services and abolished tax on stock-based compensation for employees of start-ups,” Ruto stated.
Additionally, Ruto assured global firm of Kenya’s ample supply of energetic, gifted and skilled human capital to drive the country’s tech sector.
“We continue to develop a work force fit for the changing world,” Ruto added.
The Head of State also pointed that Kenya is in line with supporting entrepreneurs through the creation of a digital hub in every ward that will offer learning and innovation to many talents.
“This will offer learning and innovation to more than one million talents. This incredible talent pool will serve your businesses,” Ruto stated.
At the same time, US Ambassador, Meg Whitman said that Kenya is the most stable democracy in East Africa with regional logistics and leading financial hub that provides a gateway to the East African market as a key destination for foreign direct investments and venture capital.
Deeper trade ties dominate Kenya – US Business Road Show
On the sidelines of the Kenya – US Business Road Show, Kenya’s president also met with American tech giants including Microsoft, Intel and Apple where he held progressive talks
“Kenya has plenty of opportunities to offer American technology and manufacturing companies, particularly its potential as a vital African base and prime center for tech, manufacturing, connectivity, infrastructure development and garment fabrication,” Ruto stated.
Moreover, Ruto thanked Google for actively contributing to Kenya’s development by granting Ksh 600M (USD 5M) to enhance connectivity for crucial citizen services, assist in affordable smartphone device creation and support SMEs through the Google Hustle Academy.
Ruto also stated that it’s the strategic intent of his government to support investor’s, through infrastructure, policy and other investments, the enhancement of Kenya’s position as the epicenter of African innovation and technological transformation.
“Dynamic, economically stable, secure, innovative with a favorable tax environment, skilled labour force, technological expertise, remarkable green energy credentials and a gateway to six undersea fibre-optic cables providing reliable data connectivity,”