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NIC advances efforts to enhance Kenya’s investment landscape

The National Investment Council (NIC) marked a significant milestone as it convened its second full council meeting on January 12, 2024.

Chaired by His Excellency the President, the council engaged in strategic deliberations aimed at fortifying Kenya’s investment climate and catalyzing the influx of Foreign Direct Investment (FDI) alongside fostering Domestic Direct Investment (DDI) growth.

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Recognizing the paramount importance of real-time feedback on policy impact and identifying barriers to investment, the council adopted a resolution to conduct quarterly private sector roundtables.

This initiative seeks to provide a platform for private sector stakeholders to candidly address challenges within Kenya’s investment climate and agree upon solutions, both policy and non-policy, within defined timelines.

The inaugural roundtable, presided over by the President, is scheduled for March 2024.

Understanding the significance of transparent communication to investors and the nation’s global positioning, the Council resolved that the Cabinet Secretary responsible for The National Treasury and Economic Planning, as well as the Cabinet Secretary for Investment Trade and Industry shall schedule periodic media briefings targeted at investors and the international media, with the aim of conveying the accurate stance of the country on fiscal, monetary, and investment matters.

The Head of State, also the Chair of the NIC, acknowledged the economic resurgence resulting from interventions in various sectors. Council members were reminded of their crucial role as the focal point for private sector concerns related to the investment environment.

This commitment is poised to elevate Kenya’s regional and international standing as the preferred investment destination.

Chaired by President William Ruto, the second full meeting was attended by National Investment Council Members, including Investments, Trade and Industry Cabinet Secretary who is the convener, Information, Communication and The Digital Economy Cabinet Secretary Eliud Owalo, Water, Sanitation and Irrigation Cabinet Secretary Alice Wahome, Agriculture and Livestock Development Cabinet Secretary Mithika Linturi, Environment, Climate Change and Forestry Cabinet Secretary Soipan Tuya and Council of Governors Chair Anne Waiguru.

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