Japanese investors in town

September 10, 2008
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, NAIROBI, September 10 – A group of Japanese investors jetted into the country on Wednesday to explore opportunities for investments and joint ventures with the private sector.

Kenya’s Ambassador to Japan Dennis Awori said the 51 member team would be led by the country’s Vice Minister for Foreign Affairs Nobuhide Minorikawa.

“The mission is composed of leading private sector investors and business executive from Toyota, Mitsubishi but also includes smaller companies which previously would not be looking to invest in Africa,” Awori said.

During the visit the delegation will seek to familiarize itself with regulations, practices and procedures for doing business in Kenya and in the East African region.

Awori said at a media briefing on the visit that the government had made sufficient preparations in collaboration with the Kenya Private Sector Alliance, the Kenya Association of Manufactures and the National Chamber of Commerce and Industry to ensure trade issues between the two countries were adequately addressed.

“The trade balance currently is hugely in favor of Japan and this is major concern the government would want addressed,” he said.

A high powered team of Kenyan business executives has also been constituted to outline opportunities of joint ventures with the Japanese delegation.

The visit to Kenya was motivated by the geopolitical strategic advantage of Kenya as a launch pad for engaging countries in the greater East and Central Africa (EAC) region.

Kenya has the highest population of Japanese businessmen and entrepreneurs in the EAC.

The delegation will be in the country for three days and was scheduled to hold talks with top government officials including Prime Minister Raila Odinga on Thursday.

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