NAIROBI (Xinhua) --
More than 30 investors from Saudi Arabia on
Wednesday expressed interest in investing in various fields in
Kenya especially in infrastructure, energy and agriculture.
The investors led by Saudi Arabia’s Commerce and Investment
Minister Majed Bin Abdullah Al-qasabi expressed keen interest in
investing in the country, noting the improved business
environment created by the government.
President Uhuru Kenyatta, who welcomed the Saudi business
people to set shop in Kenya, assured them of this
administration’s commitment to facilitate the smooth operation
of their companies.
"We have taken deliberate efforts to create a conducive
environment for foreign and domestic investment to thrive side
"We urge you to take advantage of the huge opportunities that
we have created, key among them being infrastructure projects,"
Kenyatta told the Saudi investors at a trade forum in Nairobi.
He emphasized the need for Saudi investors to make Kenya
their investment destination of choice to bridge the balance of
trade that is currently tilted in favour of the Arabian
"We extend support to all foreign investors and will accord
the same to business people from Saudi Arabia.
"It is my hope that your visit to Kenya will open channels of
communication between our business communities that will lead to
enhanced trade and investment relations," he said.
Kenyatta said the establishment of more Saudi companies would
bolster the ongoing government’s efforts to create more jobs
through the setting up of manufacturing plants.
The meeting also discussed the possibility of importing
cheaper crude oil from Saudi Arabia and explored ways of
creating an opening for Kenya to export cattle as well as beef
products to the Arabian State.
During the meeting, Akkad Systems Limited of Kenya and the
Kingdom Paints Company of Saudi Arabia signed an MOU on
cooperation in paint distribution and retail manufacturing.
Industry, Trade and Cooperatives Cabinet Secretary Adan
Mohamed assured the Saudi investors that investing in Kenya will
open doors not only to the local market but also to the wider
regional markets of the East African Community and COMESA with a
population of more than 600 million people.
Kenya’s exports to Saudi Arabia include tea, coffee,
vegetables, textile materials, fruits, nuts and beef among
others while major imports include oil, molasses, chemical
products and paper.