Kenya to seek over Sh32.5tn in deals during upcoming US state visit » Capital News

NAIROBI, Kenya, May 14 – Kenya seeks to tap over Sh32.5 trillion in investment deals during the upcoming state visit by president William Ruto to the United States.

Speaking during a press conference on Tuesday, Investment, Trade and Ministry Cabinet Secretary Rebecca Miano asserted that the country will pitch over 30 projects during the visit which kicks off on Sunday.

“The Kenya delegation will leverage on the visit to promote Kenyan goods and services with a view of elevating the profile of Kenya as a source of quality goods and services and an attractive destination for inward foreign direct investments (FDI) from the US through bankable investment opportunities worth over $20.5 billion in sectors across the Bottom-Up Economic Transformation Agenda (BETA) and deepen Commercial ties,“ she said.

Miano added that the country will seize the opportunity to woo more investors especially in the textile industry that she stated is on an upward trajectory in Kenya.

She noted that American companies such as Calvin Klein and Tommy Hilfiger continue to create employment opportunities for Kenyan youths in the Export Processing Zones (EPZ) in the country.

“Our textile uptake by the US industry is on the upward trajectory creating employment for our youths,” she added.

Kenya’s export to the USA was valued at USD 679 million (88,439,750,000) in 2022 against USD 543 Million (70,861,500,0000 in 2021, an upward of 25% with the main exports in 2022 being textile and apparels.

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