KIPPRA held a breakfast meeting on Foreign Direct Investment (FDI) as a Source for Economic Growth on the 12th of October 2023 in Nairobi. The roundtable meeting aimed to gather stakeholder views on the role of trade agreement in attracting FDIs in Kenya; the impact of trade and investment policies on FDI and the effect of FDI on industrialization in Kenya.
KIPPRA Policy analyst Mr Shadrack Mwatu in his presentation highlighted how foreign investment in Kenya has gone from region-leading in 2011 to now lagging behind all EAC neighbours except Burundi. During the discussion, the stakeholders noted that some of the issues that have led to Kenya’s recent dismal FDI figures were political instability, disjointed policies, and too many frameworks and institutions that seem to be in competition with each other. The stakeholders called for KIPPRA to look into trends in FDI inflows and outflows in East Africa and joint venture partnerships as part of the key areas when conducting this research.
The meeting brought together stakeholders the State Department for Trade, Kenya Export Promotion and Branding Agency (KEPROBA), Kenya Investment Authority (KenInvest), Kenya Trade Network Agency (KenTrade), Kenya Private Sector Alliance (KEPSA), East Africa Chamber of Commerce, Kenya Revenue Authority (KRA), Kenya Association of Tour Operators (KATO), Kenya Property Developers Association (KPDA), Kenya National Farmers’ Federation (KENAFF), Kenya National Chamber of Commerce and Industry (KNCCI), Equity Bank, Cooperative Bank and National Transport and safety Authority (NTSA)