NAIROBI, Kenya, Jan 27 – Manufacturers have been urged to take advantage of foreign investors’ interest in Kenya and create global partnerships.
Speaking during the Kenya – Japan Business Forum, Meghraj Group Chair Binoy Meghraj noted that foreign direct investment is a sure way of driving industrial growth in both countries adding that global partnerships are key to ensuring foreign direct investment in the country.
“East Africa and especially Kenya is a fast-growing economy. The ability to connect with different countries will drive this growth further and drive industrial growth in both countries. Through this partnership, companies will enjoy the transfer of information on business processes from the factory floor to management as well as investments,” said Meghraj.
Kenya Association of Manufacturers Chair, Sachen Gudka on his part said that collaboration and strategic partnerships are fundamental to improving business outcomes.
According to Gudhak, fostering greater strategic collaboration between local and foreign manufacturers, government and social sectors will be a critical driver of innovation and economic growth in 2020 and beyond.
“The more we increase our collaboration in driving the efficiency of our local industry, not only will we realize both our economic goals but also create wealth and increase the purchasing power of all Citizens,” Gudka said.
Japan Business Council for Africa Representative Yokoi Yasuhiko underscored Kenya’s importance as a trading partner.
“Kenya plays a critical role in free trade, especially in regional and global trade. We established the Japan Business Council for Africa to enhance economic relations with African countries. Kenya is a strategic partner because it is our gateway to developing business regionally besides being the most promising in terms of economic development,” Yokoi Yasuhiko.
Data provided by Kenya Association of Manufacturers say that partnerships between Kenyan and Japanese companies will be a key driver towards the achievement of the Big 4 Agenda and increasing the sector’s contribution to the GDP to 15 percent by 2022.