16 August 2013

Kenya: Uhuru Woos Russian Entrepreneurs

Moscow — President Uhuru Kenyatta has encouraged more Russian business people to consider investing in Kenya to benefit from the country's strategic location as a gateway to the East and Central Africa region.

President Kenyatta said due to its strategic location, Kenya has emerged as the regional economic, trading and investment frontier in the region.

The President was speaking in Russia on Friday during a meeting with the Chamber of Commerce and Industry of Moscow.

"I welcome Russian investors to take advantage of our strategic location as the gateway to the East African Community and the Common Market for Eastern and Southern Africa - which has a combined market potential of over 400 million people," he said.

President Kenyatta expressed appreciation to the Russian business community for recognizing Kenya's potential as one of the most promising investment destinations in Africa.

Saying the agricultural sector is the mainstay of the country's economy, the President added that his Government is keen on achieving food security in line with Kenya's Vision 2030 whose focus is to create a globally competitive and prosperous country.

He singled out various sectors of the economy in which the Russians can explore for investments including, energy, oil exploration, communication and infrastructure.

The President called on the Russian business community to explore ways of increasing the market share of the Kenyan tea, coffee, vegetables and flowers so as to deepen and strengthen bilateral trade ties between the two nations.

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