President William Ruto has reached out to Japanese businesses, urging them to invest in Kenya’s key sectors like manufacturing, agriculture, and technology.
He highlighted the government’s Bottom-Up Economic Transformation Agenda (BETA) as creating ample opportunities in these areas.
During the Kenya-Japan Business Forum in Tokyo, President Ruto emphasized the potential for a mutually beneficial partnership.
He stressed that Japanese companies could tap into Kenya’s skilled workforce, particularly the youthful population with a median age of 20, thus creating job opportunities.
“We want your manufacturing endeavors in Kenya to incorporate local talent and utilize our skilled workforce. This will, in turn, open up employment avenues for our youth,” said President Ruto.
He pointed out that investing in Kenya not only grants access to the local market but also to the larger East African Community and the extensive African market facilitated by the African Continental Free Trade Area (AfCFTA) agreement.
President Ruto encouraged Japanese investors to explore Kenya’s vast arable land, which holds significant potential for global food security.
He assured them that Kenya upholds laws protecting the interests of both foreign and local investors.
Furthermore, President Ruto urged Japanese investors to consider Kenya’s renewable energy sector, highlighting the country’s substantial reserves in solar, wind, and geothermal energy.
Prime Cabinet Secretary Musalia Mudavadi praised President Ruto’s proactive approach to engaging in robust foreign diplomacy to attract investors.
Japan’s Vice Minister for Economy, Trade and Industry, Nobuhiro Yoshida, expressed confidence in Kenya’s business environment, citing examples such as the Sh15 billion Olkaria geothermal project.
State Minister for Foreign Affairs Kiyoto Tsuji reiterated Japan’s commitment to enhancing collaboration with Kenya and facilitating skills transfer.
An MoU signed between the National Treasury and Nippon Export and Investment Insurance aims to bolster cooperation in industrial development and green growth while promoting Japanese business ventures in Kenya.
Japanese businesses have shown interest in various sectors in Kenya, including energy, telecommunications, infrastructure, ICT, and food production.
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