Raila to head investment delegation to London

July 17, 2008

, NAIROBI, July 17 – Prime Minister Raila Odinga will next week head a high powered Kenyan delegation for an investment conference that will be hosted by the UK government in London.

The tour follows an invitation from British Prime Minister (PM) Gordon Brown to Raila and President Mwai Kibaki.

At a Cabinet meeting held on Thursday, the President mandated the PM to lead the delegation that would present Kenya’s case as ‘open for business’ and the region’s investment hub and outline opportunities under the recently unveiled Vision 2030.

Kenya is also expected to showcase the opportunities under its flagship growth pillars especially in financial services, ICT, agriculture including horticulture, tourism and infrastructure development.

The Kenyan delegation will include Deputy Prime Minister and Trade Minister Uhuru Kenyatta, Foreign Affairs Minister Moses Wetangula, Ag. Finance Minister John Michuki, Tourism Minister Najib Balala, Nairobi Metropolitan Development Minister Mutula Kilonzo and Energy Minister Kiraitu Murungi.

Meanwhile, the Cabinet has approved the proposed development of a hotel, expo-cum-convention center at the Jomo Kenyatta International Airport (JKIA) by a private investor.

The Sh13 billion investment will be undertaken by the Afro-Asian Investment Corporation based in Doha, Qatar. The Investment will be on the basis of Build, Operate and Transfer (B.O.T).

The Cabinet also approved that the government seeks parliamentary approval for an extra Sh5 billion required for the completion of the development of a second container terminal at the Port of Mombasa.

The funds are in addition to the Sh16 billion loan that will be sourced from the Japan Bank for International Cooperation (JBIC).

When completed the port expansion will include construction of four berths, an apron, container yard, roads, railway line connection, main buildings, dredging of main basin and procurement of equipment.

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