NAIROBI, March 25 (Xinhua) -- The fourth edition of the Kenya International Investment Conference (KIICO) opened on Wednesday in Nairobi, the capital of Kenya, with leaders unveiling investment deals worth over 2.9 billion U.S. dollars, which are expected to create more than 63,000 direct jobs in the country.
The three-day conference was jointly opened by Kenyan President William Ruto and Mozambican President Daniel Chapo, who underscored the importance of regional cooperation in driving foreign investments into Africa.
Ruto said that the investment commitments, spanning agriculture, manufacturing, information and communication technology (ICT), business process outsourcing, healthcare, energy, and real estate, reflect growing investor confidence in Kenya's economic prospects.
He said the government is strengthening tax administration by introducing VAT refund mechanisms for export-led firms and providing greater certainty in transfer pricing frameworks, thereby improving liquidity and predictability for investors.
For his part, Chapo cited Africa's young population, mineral resources, and potential in agriculture, tourism, infrastructure development corridors, economic growth, industrialisation, and special zones as the necessary assets for the continent's turnaround.
Lee Kinyanjui, cabinet secretary in the Ministry of Investments, Trade and Industry, said that the conference has attracted a diverse pool of local and international investors from key markets, reinforcing Kenya's role as a gateway for investment into East and Central Africa.
