Kenya is committed to luring quality foreign investments into the nation, according to President William Ruto. He mentioned the ambitious reforms the government is implementing to make Kenya a regional commercial hub.
The establishment of a business-friendly tax system was mentioned by the Head of State as one of the ways the government plans to attract international investment.
“A more investor-friendly environment will allow businesses to innovate, thrive, and create more economic opportunities for the people,” the speaker claimed.
He said it on Friday at a Silicon Valley investment event and engagement in San Francisco, California.
Kenya, according to President Ruto, is secure, has green energy and solid infrastructure, and has modernized its data privacy legislation to comply with the Global Cross-Border Private Rules framework.
“We also eliminated the tax on stock-based compensation for employees of start-ups and VAT on exported services.”
He told foreign businesses that Kenya has a large pool of enthusiastic, talented, and qualified workers “who are responsible for driving the country’s tech sector.”
“We continue to build a workforce suited to the changing global environment.”
The Head of State emphasized that by establishing a digital hub in each ward, Kenya is assisting entrepreneurs as well.
“More than a million talents will have access to study and innovation thanks to this. This amazing talent pool will benefit your companies.
Meg Whitman, the US ambassador to Kenya, British Robinson, the coordinator for Prosper Africa, as well as other investors and business leaders, attended the session.
According to Ambassador Whitman, Kenya is the region’s most stable democracy, a major financial and logistical hub, the entryway to the East African market, and a major hub for foreign direct investment and venture capital.
