Kenya: President Ruto's U.S. State Visit Marks Major Milestone and Investment Opportunity

William Samoei Ruto / page Facebook
President William Ruto
16 May 2024
Capital FM (Nairobi)
editorial By Editorial Desk

Kenya's President William Ruto is set to become the sixth Head of State invited for a State Visit by U.S. President Joe Biden since he took office four years ago. U.S. Ambassador to Kenya Meg Whitman described the invitation as the "highest honor for a visiting Head of State," emphasizing the significance of this rare opportunity.

"In the Biden administration, there have only been five such visits, and Ruto's will be the sixth," Whitman noted on Citizen TV's JKLive show, hosted by Jeff Koinange. Ruto will also be the first African Head of State to receive a state visit to the U.S. since 2008 and only the second Kenyan to be honored in this way. "It is a high honor for the President, for Kenya, and for the Kenyan people," Whitman added.

Kenya is gearing up to secure trillions of shillings in investments during President Ruto's week-long state visit to the United States. The visit will focus on trade negotiations and exhibitions.

Two Kenyan companies, Vivo Fashion and Wazawazi, will inaugurate their operations in Atlanta and Colorado, respectively, marking a notable expansion of Kenyan business presence in the U.S.

Kenyan exports to the U.S. have surged by 35 percent over the last decade. The government aims to build on this growth during President Ruto's visit. The Ministry of Investment, Trade, and Industry plans to pitch over USD 20.5 billion (Sh2.6 trillion) in investment opportunities, showcasing more than 30 promising projects to potential American investors.

"As part of the Kenya Diaspora Exhibition and Forum, we will highlight our achievements, capabilities, and potential. For the planned product launches, we will explore how best to enter each other's markets," stated Cabinet Secretary Rebecca Miano.

According to ministry data, Kenya's exports to the U.S. were valued at USD 679 million (Sh88.6 billion) in 2022, up from USD 543 million (Sh70.8 billion) in 2021, marking a 25 percent growth. Textiles and apparel continue to be the primary exports to the U.S. market.

The Ministry is keen to explore other sectors for investment and collaboration to double Kenya's foreign direct investment. "We look forward to enhanced bilateral trade between Kenya and the U.S., with more American investors capitalizing on our conducive business environment, which is rich with diverse investment opportunities across several sectors," Miano added.

President Ruto will headline a high-level business summit where American companies will share their success stories of investing in Kenya, encouraging

Read the original article on Capital FM.

Tagged:
Copyright © 2024 Capital FM. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 600 reports a day from more than 110 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.