Kenya develops Investment Retention Strategy

APRIL/NAIROBI Kenya has developed a National Investment Strategy that seeks to increase Foreign Direct Investments (FDI), Domestic Investment (DI) and Diaspora Direct Investment (DDI). Through its Fourth Medium Term Plan (MTPIV), Kenya aims to produce what it consumes, add value to the raw materials it produces before exportation and expand labour intensive production to increase jobs for young Kenyans Successful implementation of the Investment Strategy aims to achieve socio-economic benefits to the country such as technology skills transfers, employment creation, economic diversification, income enhancement, export growth and increased output. The Investment Strategy also contains a five-point Investment Retention Strategy as an after-care program whose goal is to retain investors, encourage reinvestment and maximize the positive impact of the investment on the local economy. PS Abubakar Hassan Abubakar says aspects of the Investment Retention Strategy include: Diplomatic Economic Focus; Investor Ready Business Environment; Public-Private Partnership; Supportive Institutional Framework and Ensuring all leads turn into contacts, connections and contracts.