TICAD will increase FDI’s says, KenInvest

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By Carol Kago

Tokyo International Conference on African Development is expected to grow ties between Kenya and Japan and to improve the business environment to ensure more investments so as to grow Kenya’s economy and generate more jobs.

This is according to KenInvest CEO Dr. Moses Ikiara who says the summit will further increase foreign direct investments riding on renewed investor confidence in the country’s business climate.

For the last one year Kenya has played host to high profile events.

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The Tokyo International Conference on African Development which is three months away, adds to the ever expanding list of conferences that Kenya is attracting in recent times.

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In July, Kenya hosted the 6th Global Entrepreneurship Summit that has attracted massive investment opportunities for Kenya.

This was followed by the 10th World Trade Organization Ministerial Conference in December 2015.

This is the first Tokyo International Conference on African Development, TICAD, to be held in Africa and is expected to be a great opportunity to showcase Kenya not only to Japan but other countries as well.

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The TICAD meeting will strengthen ties between the two countries as Kenya endeavors to forge ahead in trade, investment and development in the African continent and beyond.

Kenya is gearing up to ensure the conference is a success and that it serves its intended purpose.

Kenya imports goods from Japan worth 60 billion shillings annually while Kenya exports goods to Japan worth only 4 billion shillings annually.

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The huge gap is what the business community is hoping to bridge by improving the bilateral relations to attract more investments in the country.

TICAD is expected to improve and increase funding for development projects that are ongoing in the country.

Over the years, Japan has funded several development projects in Kenya to the tune of around KSh469.5 billion.

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