, NAIROBI, Kenya Jan 26 – Kenya has been ranked as one of the seven top investment destinations to watch in emerging markets by Fortune magazine.
The ranking takes note of the massive efforts being made in infrastructure development, the power sector and improving macro-economic stability.
Commenting on the standing, the Cabinet Secretary for Industrialisation and Enterprise Development Adan Mohamed said there is growing confidence by global investors in the country.
“The reducing cost of doing business and stable macro-economic environment continues to make a clear signal that Kenya is ready to do business with the world and we are delighted that investors are showing increasing confidence in our country, “Mohamed said.
Kenya has embarked on an ambitious programme to address challenges on the ease of doing business and has set up a delivery team to make the country a world class investment destination.
The Ministry of Industrialisation and Enterprise Development is leading the business climate reform agenda and is working with various government agencies.
Kenya made a cut to the special list of seven that has India, Malaysia, Indonesia, Mexico, Poland and Colombia.
Kenya improved by one position in the World Bank Doing Business Report 2015, where it ranks at position 136 out of 189 nations globally compared to the 2014 report where it ranked 137 in the ease of doing business.
The news also comes as the country is also setting up a one-stop shop where investors can obtain business permits to prop up Kenya’s position as a favourite regional investment destination.
Business registration in the country can also be done instantly via mobile phones.