KenInvest taps counties in investment blueprint
By Fred Aminga
The Kenya Investment Authority (KenInvest) will launch an a policy blue print set to guide the state agency in it's operations in the country.
Dubbed the Kenya Investments Policy (KIP), the document will come alongside a County Handbook developed to enable counties attract targeted investments.
Set to be launched later in October, the documents developed jointly with other partners are considered a milestone by Managing Director Moses Ikiara.
The handbook outlines details on the establishment of County Investment Units (CIUs) which are expected to spearhead investments at the grassroots for especially foreign investors seeking to set shop in the devolved units.
‘CIUs will serve as direct contact points with the KenInvest in fast tracking investment approvals and investment promotion activities,’ says the MD further adding that the multiple taxes levied by counties will be streamlined.
At the national level, the proposed KIP will harmonize operations of the various state agencies by operationalizing the National Investment Council (NIC) to oversee investment activities in the country, guarantee special incentives to investors in designated free zones for investors to operate while expanding trade and create jobs.
Presently, leading counties of Nairobi, Mombasa, Nakuru offer various investment opportunities on solid management while Mandera is seeking investors for the construction of an abattoir in that county.
‘KenInvest-county collaboration is essential to provide a single entry point/conduct; especially to foreign investors. This avoids duplication of services, conflict of roles, and ensures effective and faster facilitation, under the one stop Center,’ Ikiara said.
KenInvest's main objective is promoting investments in Kenya. It is responsible for facilitating the implementation of new investment projects and after care services for new and existing investments.
It also organizes investment promotion activities both locally and internationally.