Nairobi — Deputy President Rigathi Gachagua has reassured foreign investors, particularly Indian companies, of favorable policies in Kenya's investment sector to facilitate their endeavors.

During a meeting with Shri V. Muraleedharan, India's Minister for State for External and Parliamentary Affairs, Gachagua extended an invitation to Indian firms to invest in Kenya, highlighting the country's potential in various sectors, including manufacturing, housing, agro-processing, ICT, and pharmaceuticals.

"We invite more Indian companies to invest in the existing opportunities, including affordable housing, agro-processing and value addition, pharmaceuticals and medical equipment manufacture, ICT, creative economy, etc. These sectors are in line with the Government's Bottom-Up Transformation Agenda (BETA). Investment in these particular sectors will help the Kenyan Government deliver on development priorities," he expressed.

Gachagua emphasized that Kenya has taken significant steps to improve the ease of doing business, with key policy measures in place, such as simplifying the process of obtaining business permits.

He also mentioned the government's automation of all services and the exemption of startup companies from paying taxes on unrealized gains from employee-allocated shares, all aimed at creating a conducive investment environment.

The Deputy President further noted that Kenya has reviewed the 30 percent equity shares requirement and removed VAT on export services, particularly in ICT and other sectors of the economy, to attract more investments.

The meeting between Deputy President Gachagua and Minister Shri V. Muraleedharan signifies Kenya's commitment to fostering international investment relationships and improving its business environment to attract more foreign capital.