County to slash levies for foreign investors

Nairobi Governor Mike Sonko and Nairobi Chamber of Commerce Chair Richard Ngatia discussing on the sidelines of the United Arab Emirates (UAE) Russia-Africa Food Security Forum held at the Bubble Lounge in Dubai World Trade Centre. [Photo/Standard]

Governor Sonko also promised international investors at global forum facilitation to acquire land for setting up special economic zones.

The Nairobi County government has announced plans to reduce levies for foreign investors as it seeks to transform the city into a global investment destination.

Governor Mike Sonko said among the incentives being lined up for potential investors is provision of land for new special economic zones.

The governor, who spoke at the United Arab Emirates (UAE)-Russia-Africa Food Security Forum in Dubai where he had led a delegation of city entrepreneurs, also pledged to work with the national government to fast-track the issuance of work permits.

“The national government in conjunction with my office is working towards ensuring Nairobi becomes a logistics hub for both imports and exports,” he told delegates at the forum.

“Towards this end, a lot of infrastructure developments have been undertaken, including major road bypasses, the standard gauge railway, and the upgrade of Jomo Kenyatta International Airport.”

The UAE minister of State for Future Food Security, Mariam Al Mheiri, pledged to work with Nairobi ton create partnerships in the areas of livestock management, production of halal food, and dry port management.

“The investors also pledged to set up agro processing businesses here in Nairobi which will help us in achieving our goals towards food sustainability for the city’s population,” Richard Ngatia, the chairman of the Nairobi chapter of the Kenya Chamber of Commerce and Industry, told The Standard.

The UAE also expressed an interest in working with the private sector by opening up markets for Kenyan small and medium enterprises (SMEs).