Kenya

Kenya

Launched Investment Promotion Strategic Plan for 2023-2027

01 Sep 2023

On 1 September 2023, Kenya launched Investment Promotion Strategic Plan for 2023-2027. The Strategic Plan introduces important changes to Kenya's investment policy regime, including the following: • Legislative Reforms: The plan includes a comprehensive review of the Investment Promotion Act of 2004 to align it with the 2010 Constitution and current investment dynamics. • Digital One-Stop Shop: The plan proposes establishing a digital platform to streamline the process of obtaining licenses, permits, and approvals, thereby simplifying administrative procedures for investors. • Investment Incentives Framework: The plan introduces a comprehensive framework to attract and retain investors in priority sectors, offering tailored incentives to enhance competitiveness. • Investment Facilitation Framework: In partnership with UNDP and the World Bank, Kenya is developing a framework to create a transparent, predictable, efficient, and trusted mechanism for effective investment facilitation.