NAIROBI, Kenya, May 14 – The government targets getting Sh32.56 trillion ($250 billion) in investment deals during President William Ruto’s state visit to the United States of America.
Investment, Trade, and Ministry Cabinet Secretary Rebecca Miano, in an address to the press, announced that the country will pitch more than 30 bankable projects during the visit, which commences on May 19 and runs through May 26 in the city of Atlanta, Georgia.
“The Kenya delegation will leverage on the visit to promote Kenyan goods and services with a view of elevating the profile of Kenya as a source of quality goods and services and an attractive destination for inward foreign direct investments (FDI) from the US through bankable investment opportunities worth over $20.5 Bn in sectors across the Bottom-Up Economic Transformation Agenda (BETA) and deepen Commercial ties,“ she said.
Miano added that the country will use the opportunity to woo more investors, especially in the textile industry, which she says is on an upward trajectory in Kenya.
She noted that American companies such as Calvin Klein and Tommy Hilfiger continue to create employment opportunities for Kenyan youths in the Export Processing Zones (EPZ) in the country.
“Our textile uptake by the US industry is on the upward trajectory creating employment for our youths,” she added.
Kenya’s exports to the USA were valued at $679 million (Sh88.4 billion) in 2022 against $543 million (Sh70.86 billion) in 2021, an increase of upward of 25 percent, with the main exports in 2022 being textile and apparels.
