The centre will provide timely, effective and efficient government services to investors to enhance and encourage their participation in economic development.

 

Making the announcement, President Uhuru Kenyatta said the centre located at the Kenya Investment Authority (KenInvest) headquarters in Nairobi will host all the Government ministries so as to enable investors’ scouting for business opportunities to benefit from information under one roof.

 

Opening the inaugural Kenya International Investment Conference at Kenyatta International Convention Centre (KICC) yesterday, Uhuru stated the creation of the centre is part of a Government resolution to reduce cost of doing business.

 

The centre, he reckons, will reduce the normal processing time for applications and minimise bureaucracy in the procedure and process of starting a business. The centre will also enhance the public service delivery system by local governments.

 

The conference is geared towards consolidating Kenya’s position as Africa’s gateway and prime investment destination. The one stop centre concept has been in the offing since early 1990s when the country embarked on economic, political and social reforms.

 

So far, Uhuru said some departments have been relocated to the new centre, notably immigration, Kenya Power, Nema, Federation of Kenya Employers and EPZA. Other departments like the Registrar of Companies, Ministry of Lands, Kenya Revenue Authority and Nairobi county government will soon be enlisted.

“Our intention is to second senior officers to the centre with sufficient authority to make decisions. I have directed the Ministry of East African Affairs and other ministries involved to hasten this process,” said Uhuru.

 

Uhuru confirmed plans to develop a comprehensive national investment policy that will streamline incentives currently offered to investors and other business promotion aspects, such as local content and joint ventures.

 

On her part, East African Affairs, Commerce and Tourism Cabinet Secretary Phyllis Kandie assured the Government’s determination to fasttrack strategies to stimulate Foreign Direct Investment from its current level.

 

Investment inflows in 2013, she said grew by almost 100 per cent to stand at Sh45.7 billion (US$ 514).

Source : in2eastafrica.net