OPENING REMARKS BY H.E. MR. BENSON H.O. OGUTU,AMBASSADOR OF THE REPUBLIC OF KENYA DURING THESEMINAR ON ROAD TO INVESTMENT AND TECHNOLOGYPROMOTION TOWARD AFRICAN COUNTRIES TO BE HELD ON
13TH MAY, 2011 AT THE EMBASSY.
Dr. Taizo Nishikawa, Head of UNIDO ITPO Tokyo
Mr. Stefan Kratzsch, Industrial Development Officer at UNIDOHeadquarters,
Excellencies Colleagues and Members of the ADC,
Distinguished participants,
Ladies and Gentlemen
1. I am honored to welcome you all to the Kenya Embassy and tothis inaugural Seminar on “Road to Investment andTechnology Promotion towards Africa”.
2. At the outset, I would like to express my profound appreciation toUNIDO ITPO Tokyo Office for organizing this forum. It adds to thevery important role that UNIDO has played over the years to help
developing countries achieve sustainable development.
3. The launch of the Africa Investment Promotion Agency Network(AfrIPANET) in 2001 was indeed a vital move. Through theAgency, UNIDO has come up with a programme aimed atenhancing the inflows and effectiveness of Foreign DirectInvestments. The Network assists in building the capacity ofAfrican Investment Promotion Agencies (IPAs) to enable themdevelop and execute effective investment promotion strategies.
AfrIPANET also provides a valuable platform where African IPAs
meet to deliberate on investment and other related issues
affecting the region.
4. For about 10 years now UNIDO has been undertaking
Investment Surveys aimed at investigating the determinants ofForeign Direct Investment in African countries, highlighting theimplications for local economy and public policy. Kenya andSenegal were selected to be the hubs for the 2009 survey. InKenya, a total of 720 companies representing 40% foreign and60% local were surveyed. It is hoped that the Survey’s wide reach
would provide a wealth of information as well as the possibility toanalyze different investor types across sub-Sahara countries,
capturing changes in the investment trends over the years.
5. This Seminar is coming at a time when Africa is putting up extra
efforts to attract foreign investors. It is in such forums that weare able to address the perceptions and concerns that foreign
investors have about the business environment in Africa. In 2009Japanese investment in Africa were estimated at only 1US$7,464
million of the global total (US$740,364). This works out to a mere1%. Yet the potential is there waiting to be exploited. In recenttimes, Africa’s growth rate has witnessed an upward trend. The
latest report by the “African Economic Outlook,” estimates thecontinent’s growth rate will likely reach 5.2% in 2011.
6. Under the framework of TICAD IV, Japan seeks to assist interalia in boosting economic growth in Africa. Among thecommitments made by the Japanese Government is doubling ofODA to US$ 1.8 billion by 2012. This is on course. Similarly,
Japan desires to double foreign direct investment over the same
period. This calls for greater emphasize and focus on publicprivate partnerships. In this regard, I am glad to note that since
the TICAD IV Summit in Yokohama (2008) a number of joint
Government / Private Sector delegations from Japan haveundertaken investment/ trade promotion Missions to Africa. We
now need to see this translated into tangible results. Japan is akey partner of Africa and we don’t want to see it left behind in thefield of investment.
7. There are many opportunities and reasons to invest in Africa. I
would like to briefly touch on the Eastern Africa sub-region
where Kenya falls. East Africa is a region overflowing withpotentials. From agriculture to mining to tourism to energy,
investment opportunities abound. With the aim of harnessing
this potential to promote economic growth and development in1

data from Jetro website: www.jetro.go.jp

the region, the five Partner States of the EAC have agreed to cooperate in the areas of Investment and Industrial Development,
as outlined in the EAC Treaty. Several Joint Investment Fora
have been held at Summit level – to underscore the top political
goodwill.
8. The coming into force of the EAC Common Market protocol inJuly 2010 marked a significant milestone in advancing the EAC
cooperation and integration agenda. The implementation of both
the Custom Union and the Common market protocols will bringin a big opportunity for investing in EAC, a market of more than
130 million people, where free movement of goods, freemovement of services, the right of establishment and the right ofresidence are guaranteed. This market is made even bigger by aseries of mutually beneficial partnerships with regional blocs
such as COMESA and SADC, boasting a combined population
well over 600 million.
9. In Kenya, just like in many other African countries, there are few
Japanese investment portfolios. The Kenya Investment Authority– KIA, which is affiliated to AfrIPANET, is charged with themandate of encouraging more investors into the country. TheAuthority provides investors with professional assistance;
facilitation; information and advice as well as aftercare services.
The Government has also come up with various incentives toattract investment as well as creating a conducive environment
for private sector to thrive.
10. In addition the Kenya Constitution guarantees against
expropriation of private property except for purposes of public
use or security. Kenya is also a member of the International
Center for Settlement of Investment Disputes (ICSID). Thecountry is also a member of the Africa Trade Insurance Agency(ATIA) which insures investors against non-commercial risks.
11. Investment opportunities available in Kenya ranges fromAgriculture, Tourism, Manufacturing, Wholesale and Retail,Business Process Outsourcing, Financial Services etc. My words
to Japanese prospective investors today: You are welcome toInvest in Kenya; in EAC; and Africa in General.

12. With specific reference to Japan, the Government hasestablished a Joint Task Force on improving the Business
Environment. This follows the recommendations of the ‘Blue
Book’ by JBIC on ways to improve economic partnerships withJapan. Among the measures being addressed include: taxes,
corruption by tax authorities, safety of business, efficient port
operations, investment approval systems, work permits and soon. The Government is committed to ensuring a soundenvironment for investors.
13. With these few remarks, I now hand over to key presenters of
this forum. I wish you fruitful deliberations.

Thank you.