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Strategy that shines a light on Kenya's future
(China Daily)
Updated: 2010-05-03 07:13
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Graphic depiction of 'Vision 2030' strategic plan. |
Kenya's Vision 2030 development blueprint was officially launched by President Kibaki and Prime Minister Odinga at a special ceremony in June 2008.
The comprehensive socioeconomic plan has already overcome a number of challenges caused by the global economic crisis, and having weathered the financial maelstrom, the country has emerged stronger, leaner, and more determined to achieve all of its goals.
In short, the plan aims to create a fair and prosperous society that offers people better access to quality health and education facilities and services, as well as decent housing and jobs.
Vision 2030 aims to ensure the necessary infrastructure is in place in order to fuel economic growth. New power stations, energy grids, roads, railways, ports, schools, hospitals, and communications networks will be among the foundations on which the country's future is built.
Investment opportunities are available right across the Kenyan economy and government ministers and trade officials are actively pursuing foreign investors and offering them a range of financial incentives such as tax breaks, tax holidays, and streamlined planning application processes.
The government is particularly keen to hear from Chinese investors eager to exploit the investment openings in key sectors and fields such as infrastructure, construction, energy, ICT, agriculture, financial services, and tourism.
The government expects such projects to be developed through PPPs like joint ventures. According to Wycliffe Oparanya, minister of state for Planning, National Development, and Vision 2030, Kenya needs Chinese expertise and finance in order to reach the many goals contained in the blueprint.
"The Kenyan government has come up with strategies to ensure that the economy is revived and one of the strategies is ensuring that there is more money set aside for infrastructure," Minister Oparanya said.
"I am happy that the Chinese government has been able to help us to the extent that it has. Apart from supporting us in infrastructure development we want to encourage the Chinese to invest in Kenya so that technology can be transferred to our people in areas that are critical to our economy."
Minister Oparanya, who has a wealth of private sector experience, says his predominantly rural country is especially keen to attract FDI in the agricultural sector as officials look to boost levels of self-sustainability.
"The agriculture sector is important because unless we have sufficient food for ourselves, then it will be difficult to progress," he said.
"With regards to our agricultural industry, coffee, tea and horticulture have all been doing very well, and Kenya is also one of the leading exporters of flowers and pyrethrum. We need to encourage the private sector to invest in these areas since the government is not experienced enough to develop them by itself."
Home to the region's leading financial services sector and with more than 40 commercial banks in operation, Kenya offers a wealth of excellent investment openings across the banking and financial services industry.
Another sector that has traditionally been a large revenue generator is tourism. With some of the most spectacular scenery in the world within its borders, Kenya is a leading holiday destination as visitors from the four corners of the world flock to enjoy its magnificent animals, genuine safari adventures, and pristine beaches lapped by the Indian Ocean.
While China's share of the tourism market remains relatively small, tourism chiefs are confident the numbers will grow, with the sector among those showcased later this year at the high-profile international business event of the Shanghai Expo 2010.
The massive six-month long event, on which China has placed as much importance as the 2008 Beijing Olympic Games, is expected to attract tens of millions of visitors, with Kenya sharing its colorful tradition, history, culture, hospitality, and beauty in the PanAfrican Pavilion.
(China Daily 05/03/2010 page17)
