Kenya has entered into a bilateral agreement with Japan to promote the Kenya –Japan Trade Investment.
Speaking at the Japan–Kenya Business Forum in Tokyo, President William Ruto said Kenya is ready for Japanese trade investments that will explore avenues for mutual growth and prosperity.
“We are a democracy with a facilitative legal framework that protects public and private investment. Our manpower is young, skilled, talented and well-educated,” said Ruto.
The president also presided over the signing of the Memorandum of Understanding between the National Treasury and Nippon Export and Investment Insurance that will strengthen the ties for industrial development and green growth and promote Japanese companies in Kenya.
“Investing in Kenya will offer Japanese enterprises access to the East African Community (EAC), Common Market for Eastern and Southern Africa (COMESA), the Tripartite Free Trade Area and Africa Continental Free Trade Area markets of more than 1.4 billion people and a combined GDP of $3.4 trillion. A good return on investment is guaranteed, especially in our renewable energy, manufacturing, agriculture and technology sectors,” added the president.
He further lauded the Japan International Cooperation Agency (JICA) in offering its support with different sectors in the country including, health, education, water and infrastructure in providing development in the rural areas in the country.
“We are grateful to JICA for supporting rice production in Mwea, Kirinyaga County, and our overall rice growing master plan in Kenya,” he said.
The Japan Bank for International Cooperation (JBIC) will also finance strategic projects in the country including energy, ICT, manufacturing and agricultural value chains which will create more job for the youths.