UAE investors eye opportunities in Kenya
ABU DHABI, October 23, 2015
UAE investors are set to eye investment opportunities in Kenya at the Kenya International Investment Conference (Kiico) that will run from November 23 to 25 in Nairobi.
Aimed at attracting international investor interest - with a focus on leveraging growing attention from UAE organizations - the conference follows recent initiatives from Dubai Chamber and leading UAE companies such as Dubai Exports to connect business in the UAE and Kenya, said a statement.
Phyllis Kandie, Cabinet Secretary of the Ministry of East African Affairs, Commerce and Tourism, said: "Like Kenya, the UAE is regarded as a regional economic gateway to business growth in the region - and we have a major opportunity to leverage our nations' strategic positions to build high-return business opportunities for UAE and Kenyan businesses.
“In recent months, we have welcomed UAE delegations eager to expand and grow their business into East Africa."
Hamad Buamim, president and chief executive officer, Dubai Chamber, said: "We aim to create strong partnerships between UAE and Kenyan companies. By working together, we can find mutual benefits economic growth in our two regions.
“Kenya is now one of the largest economies in Sub-Saharan Africa and offers many attractive investment opportunities for avid UAE investors."
In 2013, Kenyan imports from the UAE stood at $1.51 billion mainly in the oil and petroleum sector.
The total trade between both countries stood at $1.83 billion, making UAE Kenya's fourth largest trading partner.
Connecting business leaders from international and local markets to do deals across the region, KIICO 2015 is expected to draw in more than 1,500 local and international delegates and press attendees from around the world.
Moses Ikiara, managing director of the Kenya Investment Authority, said: "Kenya is attracting a multitude of global investors and over the past 12 months, we have seen a marked rise in interest in the agribusiness, ICT, apparels & textiles, leather and renewable energy sectors.
“To facilitate this interest, Kiico 2015 is highlighting these key growth sectors, as we aim to encourage businesses to 'Think Investment - Make It Kenya' - the central theme of this year's conference."
"With a streamlined focus for this year's KIICO, we foresee a high uptake of investment opportunities in 2015 and beyond," he added. - TradeArabia News Service
