Kenya through MITI, has hosted the Indonesian Business Delegation Led by H.E. Luhut Binsar Pandjaitan, Coordinating Minister for Maritime Affairs &Investment. This event marked a significant milestone in strengthening bilateral ties & investment opportunities between the two nations. For more information,

https://x.com/MITI_ke/status/1679498861272858626

In a significant stride towards fostering economic ties, the Indonesia-Kenya Business Forum witnessed a remarkable union of 22 prominent Indonesian companies and senior Government officials led by Coordinating Minister of Maritime and Investments, Hon Luhut Binsar. The event served as a galvanizing moment, where Indonesian investment solutions aligned with promising Kenyan investment opportunities.

The Kenya-Saudi Arabia Business Forum was recently hosted by the Ministry of Investment, Trade & Industry in collaboration with KenInvest, KEPSA and kenya chamber. This significant event welcomed the presence of HE Khalid Al Falih, who led a delegation of over 30 Saudi firms to Kenya. The primary objective of the forum was to facilitate economic collaboration between the two nations, with the aim of promoting mutual learning, international joint ventures, new business development, and fostering a stronger connection between Kenyan and Saudi Arabian businesses.

In an impressive display of commitment to environmental sustainability, the greening of the financial system has paved the way for robust green financing. As a result, the energy sector has achieved an outstanding 92% green ability, marking a significant milestone in the journey towards a greener future. Building upon this success, efforts are now underway to transform the transport sector, ushering in a new era of green mobility that aligns with the emerging transport norms.

In a recent development, Hon. Felix Koskei, the Head of Public Service, was provided with an update on the advancements made by Taifa Gas SEZ Kenya Limited, an investor in the economic zone. Taifa Gas SEZ Kenya Limited is currently in the process of establishing a substantial liquefied petroleum gas (LPG) handling facility with a capacity of 45,000 metric tons.

In a significant development for sustainable transportation, the PS, Hon. Abubakar Hassan witnessed the presence of CS Transport and Roads, Hon. Kipmurkomen, as he presided over the commissioning of the first E-mobility class. This groundbreaking initiative was made possible through a partnership between KCB Foundation and UNITAR (United Nations Institute for Training and Research).

We are pleased to report on the latest developments in tax policies and incentives introduced by the government to promote economic growth and attract investments. The recent reforms aim to provide equal treatment to both foreign and domestic companies while stimulating specific sectors, such as manufacturing and healthcare. Below is a summary of the key changes:

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.