Kenya's FDI may have doubled in 2016 to $2.48 billion says keninvest

elbarik

elbarik

JF-Expert Member
Jul 5, 2016
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The Kenya Investment Authority has backed increased infrastructural development and readily available skilled labour to help grow foreign direct investments to the targeted 10 per cent of the national wealth in the medium term.

KenInvest said there has been immense investor appetite in key sectors, including oil and gas, manufacturing, agro-processing, infrastructure development, financial services and ICT.

“Judging from what we are seeing in inquiries even if elections are near, we are still seeing a lot of investors coming in and scouting for opportunities,” KenInvest managing director Moses Ikiara said. “It is up to us now to be very ready, very quick on our feet to serve investors quickly so that they can take up the opportunities.”

In 2015, Kenya attracted $1.4 billion (Sh144.80 billion) in foreign investment flows. Ikiara estimated the figure may have doubled to $2.4 billion (Sh248.43 billion) in 2016.

“A lot of investors have been waiting for the Special Economic Zones to kick off so now we should expect FDI growth rates of more than 100 per cent by far over the next one or two years,” Ikiara said when he met a delegation of Japanese investors on Tuesday ahead of the tour of Dongo Kundu project in Mombasa.

He said that despite the country's improving ease of doing business,work still needed to be done on the speed of decision making among policy-makers, and land acquisition processes to increase FDI inflows.

Transport CS James Macharia urged the Japanese investors visiting the country for a tour of the Dongo Kundu's proposed Special Economic Zone to tap into the country’s investment opportunities.

Macharia said construction of the first phase of the Dongo Kundu by-pass is 60 per cent complete and that the government is currently in talks with the Japanese International Cooperation Agency to receive $220 million (Sh2.28 billion) for the second phase.

Foreign investors looking to set up shop in the special economic zones will have to inject a minimum of Sh200 million so as to enjoy tax incentives provided by the government.

These include 10 year corporate income tax holiday and a 25 per cent tax rate for a further 10 years instead of 30 per cent, a 10-year withholding tax holiday on dividends and other remittances, exemption from VAT and customs import duty on inputs, among others.

The minimum required in foreign direct investment is $100,000 (Sh1.03 million) is set to be increased under the proposed National Investment Policy. Investors presently under this bracket do not receive any form of tax incentives.

“We are still in the process of developing the National Investment Policy. There are many people who think $100,000 (Sh1.03 million) is too little for the size of our economy so we might increase it,” Ikiara said

SOURCE: THE STAR
 
kenya FDI has never clocked a bln mark unless Chinese loan is counted as an FDI! stop being stupid...
 
I think geza is very skeptical of Kenya's growth prospect. He can't understand why Kenya operates and grows as it does. He doesn't see anything to be proud of that Kenya does.
Its going to get worse for you geza. The oil industry and a revamped lappset will kill any dream you have of tz overtaking Kenya. Keep tuned.
 
Jambo la kunishangaza ni kuwa huwa tuna jaribu kuthibitisha kuwa we are better than Tanzanians...this is a waste of time since it is already a fact...we shouldn't be trying so hard to prove it...instead, we should be looking at the top to SA,Egypt, etc...not behind...Tanzanians are the ones that are right to be trying to prove to us since we are ahead of them...
 
I am sorry for them.wanataka kupita Kenya at a time when developments imeshika kasi kenya,minerals kama gold and oil inazinduliwa Kenya,at a time when an average Kenyan is more educated than all the countries in east Africa,at a time when Kenyans have its unreplacable vibrant youth making start ups all over,at a time when our athletes are making headlines all over,at a time when every county in Kenya wants to have a city of its own,at a time when manufacturing industry is picking up at a high speed in Kenya,at a time when Kenyans in the diaspora are investing more and more in the real estate of this country,. I know we have many problems in Kenya bt that doesn't deter us from making steps.I think Tz will have to wait or work day and night at an exponential speed to get us.
 
kevochoro said:
I am sorry for them.wanataka kupita Kenya at a time when developments imeshika kasi kenya,minerals kama gold and oil inazinduliwa Kenya,at a time when an average Kenyan is more educated than all the countries in east Africa,at a time when Kenyans have its unreplacable vibrant youth making start ups all over,at a time when our athletes are making headlines all over,at a time when every county in Kenya wants to have a city of its own,at a time when manufacturing industry is picking up at a high speed in Kenya,at a time when Kenyans in the diaspora are investing more and more in the real estate of this country,. I know we have many problems in Kenya bt that doesn't deter us from making steps.I think Tz will have to wait or work day and night at an exponential speed to get us.
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Mlishapotezaga Nafasi nyie.
I remember in 1990's when I was young I used to see almost 20-40% of all goods in retail shops made from Kenya,
Kwanza huwa nashangaa kuona bado mnaishi vibaya hadi leo, Now
We are watching you very close. And u know it.
 
game over said:
Mlishapotezaga Nafasi nyie.
I remember in 1990's when I was young I used to see almost 20-40% of all goods in retail shops made from Kenya,
Kwanza huwa nashangaa kuona bado mnaishi vibaya hadi leo, Now
We are watching you very close. And u know it.
Click to expand...
so kenyan products zikipungua tz ndio yamaanisha kenya imekufa????mkue mna argue na points zenye zinamek sense.
 
saadeque said:
so kenyan products zikipungua tz ndio yamaanisha kenya imekufa????mkue mna argue na points zenye zinamek sense.
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In 1990' s Kenya was the only east African industrialized Nation, sijui mmepoteaje hadi Leo hii mko na GDP ya 70bn na mnashndana na sisi. Mshapoteana nyie. Na sasa ndio tunawavuta shati mbaya. Bomba la mafuta tuliwanyang'anya tonge mdomoni, SGR Rwanda vivyo hivyo na sasa tunawalia mingo SGR ya Uganda,
Heshima tutapeana tu.
 
game over said:
In 1990' s Kenya was the only east African industrialized Nation, sijui mmepoteaje hadi Leo hii mko na GDP ya 70bn na mnashndana na sisi. Mshapoteana nyie. Na sasa ndio tunawavuta shati mbaya. Bomba la mafuta tuliwanyang'anya tonge mdomoni, SGR Rwanda vivyo hivyo na sasa tunawalia mingo SGR ya Uganda,
Heshima tutapeana tu.
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you are the one competing with us not the other way round,,,and before you forget you were independent before kenya,the better question should be,what were you doing since then with all the resources you yap about all day long in this forum?
 
Game over.d u know one thin defy all odds in Kenya ,,,,,is the over recilient economy of Kenya.and why is it so.is the entrepreneurial minds of Kenyans,one example....our tourism was almost on its death bed but instead of relying on it solely we opted for conference tourism.now u know that necessity is the mother of all inventions so reduction in sales to Tz will not make us close our shops bt we will react by getting new market,.whenever there is a new world order eg the election of Donarld Trump which will affect our business we won't also close shop coz america is not buying our goods but act rationally like a drug dealer to find new market either in Asia or south America.president Uhuru is good on this I tell u
 
game over said:
In 1990' s Kenya was the only east African industrialized Nation, sijui mmepoteaje hadi Leo hii mko na GDP ya 70bn na mnashndana na sisi. Mshapoteana nyie. Na sasa ndio tunawavuta shati mbaya. Bomba la mafuta tuliwanyang'anya tonge mdomoni, SGR Rwanda vivyo hivyo na sasa tunawalia mingo SGR ya Uganda,
Heshima tutapeana tu.
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Hahahaha!! MR. Go look for the GDB of Countries since 1970, you will realize vile tumewaacha, tulikuwa actually at the same place in 1970.

Secondly, Kenya haishindani na nyinyi, nyinyi tulimuacha kitambo, Kenya inashindana na South Africa, Nigeria Angola na Egypt
 
If Tz did not catch up with Kenya during the moi era, when this country was looted, enterprises destroyed, I wonder if they will ever catch up. Wait for double digit economic growth to set in from 2018. Mtaona kivumbi.
 
KeMzalendo said:
If Tz did not catch up with Kenya during the moi era, when this country was looted, enterprises destroyed, I wonder if they will ever catch up. Wait for double digit economic growth to set in from 2018. Mtaona kivumbi.
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True, what could have been going on in Tz during that time?? 24 good years of stagnation
 
Edward Wanjala said:
Hahahaha!! MR. Go look for the GDB of Countries since 1970, you will realize vile tumewaacha, tulikuwa actually at the same place in 1970.

Secondly, Kenya haishindani na nyinyi, nyinyi tulimuacha kitambo, Kenya inashindana na South Africa, Nigeria Angola na Egypt
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Wewe jamaa hivi huwa unashirikisha ubongo kweli?
How dare u compare Kenya and SA, ??
Lagos GDP is 90bn, and Your Kenya GDP is 70bn :D :D :D
Egypt hukupaswa kuiweka hapa kabisa..
Alexandria alone (forget Cairo) beats your Nairobi in every aspect.
 
game over said:
Wewe jamaa hivi huwa unashirikisha ubongo kweli?
How dare u compare Kenya and SA, ??
Lagos GDP is 90bn, and Your Kenya GDP is 70bn :D :D :D
Egypt hukupaswa kuiweka hapa kabisa..
Alexandria alone (forget Cairo) beats your Nairobi in every aspect.
Click to expand...
As a matter of factKenya GDP is around $63 bln n not $70bln
 
game over said:
Wewe jamaa hivi huwa unashirikisha ubongo kweli?
How dare u compare Kenya and SA, ??
Lagos GDP is 90bn, and Your Kenya GDP is 70bn :D :D :D
Egypt hukupaswa kuiweka hapa kabisa..
Alexandria alone (forget Cairo) beats your Nairobi in every aspect.
Click to expand...
Wewe ndio unafaa kushirikisha ubongo katika arguments zako kabla ya kuwaambia wengine kufanya hivyo. What does the size of the GDP has to do with anything? Lagos state ikiwa na GDP kubwa kushinda ya Kenya nzima, inaamanisha nchi ya Kenya haiwezi kuwa na maendeleo mazuri zaidi kuliko Nigeria?

It's about the quality of the development, tht's what matters the most........na ni katika nyanja ngapi tumewashinda hawa wanaigeria?
 
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