Ruto woos textile industry investors to Kenya

May 1, 2014
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The Deputy President is assuring investors of a conducive environment for business in Kenya. Photo/FILE.
The Deputy President is assuring investors of a conducive environment for business in Kenya. Photo/FILE.
VIRNAIROBI, Kenya, May 1-Deputy President, William Ruto has urged local and international investors to take advantage of numerous investment opportunities existing in Kenya.

He assured investors of the availability of a large pool of skilled workers with the highest productivity in Sub-Saharan Africa that is required, particularly in the apparel sector.

Speaking on Wednesday evening during a dinner hosted in honour of the Textile and Apparel investors held at a Nairobi hotel, the Deputy President said Kenya values investors as partners in development seeing that the country is rich with rewarding investment opportunities in key economic sectors.

“I wish to proudly confirm that we are ready to do business with you. I am confident that if you are looking for a business destination, then I want to assure you that you have found the destination. We want to make Kenya the least cost destination for investments,” he told the investors.

Ruto urged the manufacturers to take advantage of the market created by the East African Community (EAC) by producing more to create job opportunities for the ever-expanding Kenyan labour force.

“Kenya is creating a competitive and enabling business environment through focus on labour, power, infrastructure and logistics, this country has well trained productive, efficient, motivated and self-driven citizens. I want to say that we are proud of our labour force,” he said.

In addition, Ruto has assured that the government will continue to focus its efforts on providing quality and affordable electricity and improve infrastructure for the country to attract more investors.

The Deputy President confirmed that plans are underway to produce additional 5,000 megawatts in the next three years in order to make power cheaper, not only to Kenyans but also to the manufacturers.

Ruto noted that the cost of energy, logistics and transport were the major components that contribute to the economic growth.

He says the government is committed to reducing the cost of energy to stand at between 68 and 78 kilowatt per hour.

Adan Mohammed, Industrialization Cabinet Secretary who spoke at the same venue said attracting foreign direct investment and job creation for the youth are the top priorities for the government, saying efforts are being made to create a competitive environment to make Kenya a textile hub.

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