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Economic Outlook & Opportunity:

THE KENYA DIASPORA CONFERENCE 2012, LONDON. “Role of Diaspora in Increasing Investments”. Economic Outlook & Opportunity:. Presentation By: Julius K. Korir Ag. Managing Director Kenya Investment Authority. Structure of Presentation. Global Picture Benefits of Diaspora

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Economic Outlook & Opportunity:

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  1. THE KENYA DIASPORA CONFERENCE 2012, LONDON “Role of Diaspora in Increasing Investments” Economic Outlook & Opportunity: Presentation By: Julius K. Korir Ag. Managing Director Kenya Investment Authority

  2. Structure of Presentation • Global Picture • Benefits of Diaspora • Kenya’s commitment to economic development • Opportunities for the Diaspora • Diaspora engagement in Investment at home • Role of KenInvest

  3. Global Picture • Changing economic fortunes in Developed Economies leading to cyclical economic glooms • Improving systems of communication leading short lead times between developed economies and Developing Economies • Countries are increasingly appreciating the growing importance of Diaspora and their contribution to home country’s economic growth.

  4. Diaspora… • Over 215 million first generation migrants around the world (about 3% of worlds population or larger than the population of Brazil) – Economist, November 2011 • More Chinese living outside China than there are French in France • Over 22 million Indians scattered all over the world …have become a potent economic force because of globalisation.

  5. Diaspora Networks • Facilitates business across borders • Speeds flow of information • Facilitate quicker deal making (trust is greater due to kinship) • Knowledge of local culture enhances investment flows (investments in India, China and Japan pass through Chinese in Diaspora) • Spread ideas (educated in universities in Developed Economies) • Take knowledge, contacts and experience home • Spread money (remittances of capital accumulated in host country) • Help companies in their host country operate in their home country

  6. Kenya Government Commitment thro.. Overall vision A globally competitive and prosperous nation with a high quality of life by 2030 Vision Political An issue-based, people-centered, result-oriented, and accountable democratic political system Social A just and cohesive society enjoying equitable social development in a clean and secure environment Economic To maintain a sustained economic growth of 10% p.a. over the next 22 years Strategy Plans and implementation …Vision 2030framework for the country’s long term economic, political and social stability

  7. Investment Opportunities in Line with under Vision 2030 • The ambitious growth target is to be achieved through careful planning and execution of the identified sectoralprogrammes and projects in each of the following 6 sectors: • Agriculture & Livestock: (To increase expected growth at 8% p.a and investment in value-addition) • Tourism-(Treble earnings thru increased arrivals from 1.6m to 3m by 2012- Key projects: Resort cities) • Manufacturing-(The sector target is to increase from 5% to 12% by 2012-Key projects: Specialized economic zones) • ICT and Business Processing Outsourcing-(Not so developed in Kenya-Flagships include: BPO Park and digital villages) • Financial Sector-(Ksh 250 b to be invested to transform the financial sector-Key target: National Social Security and Pension system, banking and insurance sectors) • Wholesale and Retail-(Construction of wholesale and retail markets countrywide)

  8. Investment Options for the Diaspora • Equities Markets • Real Estate - Retail and Wholesale • Value Adding Processing for Export • Technology Transfer • Government Bonds • Capital Mobilization Options • Personal Savings • Borrowings • Investment Clubs – Case of Transcentury • Partnerships in host Country

  9. The Kenya Investment Authority

  10. Who we are Mandate “Kenya Investment Authority (KenInvest) is to promote and facilitate investments in Kenya for both domestic and foreign investors” Vision “To make Kenya a country of choice for Investments” Mission “To attract, facilitate, retain and expand both domestic and international Investments in Kenya through provision of quality services”

  11. Our Services Providing Information on Investment opportunities and sources of capital Promote both locally and internationally the opportunities for investment in Kenya Advocacy for a conducive Investment climate Facilitate investors in obtaining necessary licenses and permits Assist investors obtain incentives or exemptions under various Acts and other regulations

  12. Summary of Role of KenInvest

  13. Red Carpet Service for Investors • Airport pick-up & fast track service through customs, immigration and quarantine (C.I.Q) • Investor site visits and meetings • Meeting arrangement with high-level government officials and/or companies of interest 13

  14. Our Contacts KENYA INVESTMENT AUTHORITY Kenya Railways Headquarters, Block D, 4th Floor, Workshop Road P. O. Box 55704 – 00200 NAIROBI Kenya (East Africa) Tel: +254-20-2221401- 4, 722205424, 733601184, 722209902 Fax: +254-20-243862 Email: info@investmentkenya.comWebsite: www.investmentkenya.com

  15. THANK YOU

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