Kenya looks for Indian investments on strategic areas
Kolkata : In a bid to boost jobs creation and achieve food security along with providing homes and low cost healthcare, Kenya is keen on Indian investments in the four strategic areas of manufacturing, agriculture, housing, healthcare sector, an envoy said here on Thursday.
"The Kenyan government has decided to focus on four strategic areas for foreign investment. The country wants investments in agriculture as it seeks food security. The country is encouraging investments in manufacturing as this will create jobs," said Willy K. Bett, High Commissioner of Kenya in India.
He said the east African country is interested in investments in housing, particularly in low cost homes, as Kenya needs one million homes.
Bett, in an interactive session with members of Merchants' Chamber of Commerce and Industry, said the country was seeking funds for healthcare system as it had a large number of people below poverty line.
According to him, the investors should take advantage of the "political stability of the country" in the East African region, an area which has at times been unstable.
According to the Kenya Investment Authority (KenInvest), India is the second largest investor in Kenya. Over 60 major Indian companies have invested in various sectors including manufacturing, real estate, pharmaceuticals, telecom, IT & ITES, banking and agro-based industries.
India is the third largest source of inbound tourists to Kenya. Over 60,000 Indian tourists visited Kenya in 2017.
Kenya Tourism Board (KTB) has launched a marketing campaign in major Indian cities to increase tourist arrivals from India. Many Kenyans visit India for medical treatment.