Deputy President Rigathi Gachagua on Wednesday asked Indian companies to help the Kenya Kwanza administration deliver on its development projects.
In particular, the DP urged investors to help President William Ruto’s affordable housing programme be a success.
The Deputy President made the request during a meeting with Shri V. Mutaleedharan, Minister for State for External and Parliamentary Affairs in Charge of Africa Republic of India, at Karen Nairobi.
"We invite more Indian companies to invest in the existing opportunities, including affordable housing,” the DP stated.
Other areas where the government of Kenya is urging Indian companies to invest include; agro-processing and value addition, pharmaceuticals and medical equipment manufacture, ICT, and creative economy.
Gachagua explained that there was a need for a quick injection of cash in those sectors because they were in line with Ruto’s Bottom-Up Transformation Agenda (BETA).
“Investment in these particular sectors will help Kenya Government deliver on development priorities," he added.
Indian companies seeking to invest in the affordable housing programme will have ease in obtaining business permits, according to the Deputy President.
DP Gachagua further added that Ruto’s administration had put in a conducive business environment for foreign investors.
This includes but is not limited to the automation of all government services and exemptions of all startup companies from paying taxes on unrealised gains on employees' allocated shares.
"India and Kenya have a long relationship of people-to-people contact. We look forward to improving bilateral relations, economic cooperation, and political contact in the coming days," Mutaleedharan stated in response to Gachagua’s offer.
Ruto targets to build 1 million affordable housing units in his first term in office.
