Kenya Advances Investment Promotion and Facilitation with New Legislative Bills and One-Stop Center Implementation

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.

The PS actively participated in the Technical Working Group, incorporating valuable input from stakeholders. Their involvement ensured that the finalization of four Legislative Bills related to investment promotion fell under the purview of the State Department for Investment Promotion. These Bills were specifically designed to address non-financial aspects that were not covered by the Finance Bill of 2023.

Once the Bills are finalized, they will undergo a crucial approval process. Firstly, they will be submitted to the Cabinet for approval, ensuring a thorough review by government officials. Subsequently, upon receiving Cabinet approval, the Bills will be presented to Parliament for enactment.