FDIs

Kenya’s macro-economic stability and favorable regulatory environment make it the most preferred investment destination in the African continent, an expert said on Friday.

“In parallel, the country’s global standing for the same metric has improved tremendously over the last two years,” Veselina Kracheva, country director for the global business intelligence and advisory firm, Oxford Business Group (OBG) said at a Sino-Kenya forum held in Nairobi. She lauded Kenya for implementing reforms that have improved investment climate.

According to the expert, Kenya’s investment is ranked as the seventh-largest economy in Africa with nominal GDP set to reach 1 trillion shillings (10 billion U.S. dollars) by 2020.

Kracheva noted that foreign direct inflows (FDI) reached a historic high in 2018 of more than 1.6 billion dollars, while leisure and business travelers surpassed the 2 million dollar mark for the first time in the country’s history.

Kenya is investing heavily in infrastructure and deepening its relationships with FDI partners to support the growth of its tourism sector.

“With the second stage of Kenya’s Standard Gauge Railway now launched, a project built by the Chinese company, the importance of Sino-Kenyan relationships could not be more pronounced,” said Kracheva.

She lauded policy reforms that have facilitated the sustainable exploitation of natural resources in Kenya to boost its exports to foreign markets. Enditem

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