Speaking at the Italy–Kenya business forum in Rome, Italy, on Monday, President Ruto maintained that Kenya has the perfect market for profitable investments owing to its business-friendly frameworks.
He said that Kenya, being the 6th largest economy in GDP ratio, has stable exchange rates with an equally stable inflation rate of about 4% in the last three years.
“If you are looking for a destination where your investment has a reduced carbon footprint, Kenya has 93% of its footprint as renewable energy. If you are looking at de-carbonising your companies and investments Kenya is the best place to deploy them,” he said.
“We are a robustly democratic country. You can count on the Kenyan Judicial system to protect your investment. We have worked on the protection of investment treaty between Kenya and Italy and also on the avoidance of double taxation.”
Urging Italy to expand its business footprint in Kenya, President Ruto added that Kenya boasts of a resourceful human capital, which helps sustain businesses in the nation.
“We have one of the best human capital anywhere in the world. If you want hardworking and intelligent people, you will find them in Kenya. We have one of the best education systems in the world,” he noted.
So far, according to the Head of State, there are close to 50 major Italian business entities operating in and out of Nairobi.
He opined that the recently opened office of Med-Or Italian Foundation will continue to build synergies for Kenyan and Italian businesses
Med-Or Italian Foundation launched its first African office in Nairobi in February, serving as a primary foundation and strategic hub for strengthening business and opening the nation’s gateway to the continent.
“We are tapping into Italian equipment for our technical training students so that we sharpen their skills and ensure they are ready for business,” President Ruto added.
On his part, Italy’s Vice Prime Minister and Minister of Foreign Affairs Antonio Tajani welcomed the partnership with Kenya, expressing optimism that the ties will bolster political and business ties
“Africa is a fundamental continent that has proven to show great interest in Italy, and we cannot disregard this request for friendship and the attention the continent has shown to us,” Minister Tajani said.
The partnership, as highlighted in a 3-year action plan, will focus on strengthening trade, innovation and technology, education, defence and security.
