Ruto promotes Kenya's interests in America
NAIROBI, Kenya - Kenya is a regional hub for investments and trade, President William Ruto has said, noting the "conducive" climate the country gives investors willing to do business and investments in the East African nation while noting tremendous improvement in security.
According to Ruto, Nairobi is pursuing ambitious reforms that will turn Kenya into a regional business hub. He said there are a lot of opportunities ranging from banking, real estate, manufacturing, and industries in the country, which he insisted is a business heavyweight across the continent.
The Head of State cited the installation of a pro-business tax regime as one of the means through which the Government aims to court foreign investments. The government, he said, is banking on development partners to improve a few areas which need improvement.
“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 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.”
According to him, Kenya has made major achievements in supporting entrepreneurs through the creation of digital hubs 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. Ruto has been branded a pro-West leader but he has laughed off the claims, arguing that nations are interdependent.