Kenya’s central location in East Africa is attractive to investors from all over the world. Investing in this region means access to a market of over 135 million consumers, an abundant, well trained labour force which is mobile, skilled and enterprising. In recent years, the trade and investment relation between Kenya and its international partners has deepened.
Private sector-led economic growth has since the early 2000s been Kenya’s priority. The Government’s business-friendly stance has rolled over into Vision 2030, which sets development benchmarks for a number of priority sectors. This has been complemented by the integration of the EAC and the establishment in 2005 of a customs union an a common market (2010).
Kenya is a member of COMESA with 19 countries and 14 of which are in a Free Trade Area (FTA). Three regional economic blocks i.e. EAC, COMESA and SADC with a combined population of over 600 million people are currently developing a joint framework and roadmap towards a Free Trade Area by 2015.
Kenya has seen an upward trend in economic development to a record of 5% as at December 2012 with prospects looking up due to extensive economic reforms, a new Constitution, and fundamental reforms in the three arms of government (executive, legislature and the judiciary). The main sectors contributing to economic growth are building and construction, infrastructure development, manufacturing, transport and services, and tourism particularly from emerging markets; agriculture, and wholesale and retail. Recent discovery of oil promises and improvement in infrastructure provide avenues for growth in the future.