In a promising development, the Permanent Secretary (PS) had a productive meeting with the representatives from the Thailand Chamber of Commerce, led by Chairman Mr. Sanan Angubolkulp. The primary objective of the meeting was to present Kenya as an open and welcoming destination for business opportunities.

During the recent visit to Thailand, a delegation led by the Permanent Secretary (PS) had a productive meeting with the Board of Investment (BOI). It was observed that currently, the BOI is primarily focused on facilitating Outward Foreign Direct Investment (FDI) rather than Inward FDI.

However, in line with Kenya's objective of attracting foreign investment, the delegation explored opportunities to tap into Thailand's Outward FDI. Specifically, Kenya has set an inward FDI target of $10 billion, and efforts are underway to leverage Thailand's outward FDI.

In Kenya, the government is taking significant steps to enhance investment promotion and facilitation through an amendment to the existing Kenya Investment Promotion Act. The proposed amendment aims to establish the Investment Promotion and Facilitation Act, reflecting the strategic priority of investment facilitation. As part of this process, a Technical Working Group was formed, which included the Permanent Secretary (PS) of the State Department for Investment Promotion.

In a significant development aimed at bolstering Kenya's investment sector, the Permanent Secretary (PS) expressed satisfaction as they officiated the launch of ICIFA College. The newly established college aims to address the need for skilled investment professionals in the country, thereby equipping them with the necessary expertise to redefine and package Kenyan investment opportunities into bankable ventures.

In a notable move aimed at strengthening economic ties between India and Kenya, the Permanent Secretary (PS) Abubakar Hassan, recently hosted a delegation of representatives from the Indian Kenyan business community. Led by Ambassador Mrs. Namgya Khampa, the Indian High Commissioner to Kenya, the discussions focused on increasing Indian investments in the Kenyan economy. With a shared objective in mind, the participants reached an agreement to develop a collaborative framework to facilitate the realization of this goal.

Egypt and Kenya are strengthening their bilateral relations and exploring various business opportunities. The Egyptian market has shown interest in Kenya's tea, and negotiations are underway to finalize an agreement that would allow the purchase of tea in Kenya shillings instead of dollars. Additionally, there are plans to establish a market for Kenya's value-added tea. This development is expected to benefit Kenyan farmers.

The European Commission and Kenya have successfully concluded negotiations to establish a long-term trade agreement, facilitating a significant partnership between Kenya and the 27 countries of the European Union (EU).