Nairobi's recent ranking as the best African City for Expatriates to live and work in headlined President Uhuru Kenyatta's address while wooing investors in Portugal.
Speaking on Wednesday, June 29, at Kenya - Portugal Business Forum in Lisbon, the Head of State rallied Portuguese investors, entrepreneurs and captains of industry to make Nairobi the fulcrum of their business interests and investments in Africa.
Uhuru insisted that Kenya presented immense commercial potential in almost all sectors of the country's expanding economy.
He further explained that the the East African economic powerhouse was open for investors from all over the world provided they were coming in peace.
“We are a melting pot where we welcome people from all parts of the world so long as they come in peace. So long as they come in the name of trading, working and working together, we welcome people.
“I was reminded yesterday that Nairobi has been voted as the best city for expatriates to live, and find accommodation. You can make your base for your African operations out of Kenya and we are more than willing to work and support you in that endeavor,” stated the Head of State.
Uhuru also raised concern about the low trade between the two countries noting that they should raise their portfolios.
According to the Observatory of Economic Complexity (OEC)'s latest available data, Portugal exported Ksh1.9 billion worth of goods to Kenya in 2020 while receiving goods worth Ksh625 million.
"I do believe there is still much scope for deeper bilateral works between our two countries. We seek to deepen that because it is unfortunate for two countries with such strong trading and private sector base are only dealing with very minimal amounts.
"The trade between our two countries, the investment between our two countries is very minimal in comparison with the opportunity that exists,” added Uhuru.
The main exports to Kenya are paper-making machines, uncoated papers and synthetic filament tow while Portugal receives processed fruits and nuts, pure vegetable oil and non-fillet frozen fish.
The event was organised by the Kenya Investment Authority (KenInvest) and its Portuguese equivalent, AICEP Portugal Global, to explore business partnership and investment opportunities by Kenyan and Portuguese captains of industry, entrepreneurs and business leaders.
Nairobi was ranked top in Africa and 12 globally on the list of the 2021 Expat City Ranking after participants noted that it was easier to get settled and find houses. Nairobi moved up 50 spaces compared to the previous year's ranking.
