Forum for Investment & Business Opportunities in Kenya: The interest of Hellenic companies exceeded any expectation


Over 150 business persons attended the forum for Investment & Business Opportunities in Kenya that was held on the 17th of July 2013 in the Amphitheatre “Yannos Kranidiotis” of the Ministry of Foreign Affairs in Athens.  

 

PRESS RELEASE

 

Forum for Investment & Business Opportunities in Kenya

 

Hellenic bussiness persons show great interest for Kenya market, organizers said

Athens, 19th of July 2013. Over 150 business persons attended the forum for Investment & Business Opportunities in Kenya that was held on the 17th of July 2013 in the Amphitheatre “Yannos Kranidiotis” of the Ministry of Foreign Affairs in Athens.  

Neither hot weather nor the fact that we are in the middle of summer or the blockade of city center by demonstrators prevented Hellenic business persons from attending the forum that was organized by the Ministry of Foreign Affairs and the Honorary Consulate of the Republic of Kenya in the Hellenic Republic, within the context of the organizaton of the forthcoming 1st Hellenic MultiSector Investment & Trade Mission to Kenya that will be held from 14th to 19th of September 2013 in Nairobi.

The participations to the mission are already over 30, although that the mission has been announced only 40 days ago.

During the forum, Hellenic businesses were informed in depth about the opportunities in the fields of:

  • Waste disposal management, technology, homebuilding, road construction projects, manufacturing, agriculture (sunflower oil, yogurt, milk, cheese, meat, fruit, etc) and tourism.
  • Renewable source of energy (solar, wind, geothermal, biofuel), fossil fuel, gypsum board liners.
  • Financial Services, imports and exports of agriculture products, machinery, catering and confectionery.

Particularly, the attention of the bussiness persons was attracted by the announcement of Kenya governmental senior officials:

  • Need for annually 200,000 new homes
  • The domestic energy production accounts for only 15% of the demand.
  • Access to banking system is easily accomplished provided that the feasibility study demonstrates viability of the investment.
  • Taxation (0% the first 10 years, 25% after that) is very attractive and stable over the last 10 years.  It may be revised in the future for the benefit of the investors.
  • Fast track procedures for acquisition of  lincencing.
  • There is incompatibility between member of parliament and minister.
  • After the last elections (March 2013), 47 regions were established and all the development funds and powers were transferred directly to the regional governments.

Welcome speeches were addressed by the Deputy Minister of Development Mr. Athanasios Skordas, the General Secretary of International Economic Relations of Hellenic Ministry of Foreign Affairs, Mr. Panagiotis Michalos,  H.E. the Ambassador of Kenya in Rome Mrs. Zozephine Gaita and the Honorary Consul of the Republic of Kenya in the Hellenic Republic Mrs. Vicky Pantazopoulou.

The forum was coordinated by H.E. the Ambassador Mr. Michael Chistides, Head of the B8 General Administration Department of Hellenic Ministry of Foreign Affairs. The intervention of H.E. the Ambassador of the Hellenic Republic in Nairobi Mr. Eleutherios Kouvaritakis has enormounsly benefited the audience.

Mr. Athanasios Skordas, at his opening speech, refered to the reforms that have been made in order to promote export activities and to formate a friendly business environment in the Hellenic market. Mr. Skordas pointed out that the Ministry of Development & Competitiviness will support the Hellenic bussiness persons that would like to develop business activities in Kenya.  Evidence of this support is the participation of Mr. Skordas  in the mission as the Head of the Hellenic delegation.

Mr. Skordas also refered to the unique quality and the authenticity of Hellenic products.

«We, together, open a new era in the history of extroversion of Hellas. We open the window of the future which is the persperctives of Africa in the global economy.» Mr. Panagiotis Michalos stressed out in his welcome speech.

H.E.  Ambassador of Kenya in Rome Mrs. Zozephine Gaita refered to the Kenya infrastructure: airports, ports and road networks, as well as to the  investment that will be made in the future. Mrs. Gaita pointed out that whoever decides to invest in Kenya, she or he should know that they are not only penetrating in Kenya market but also in all markets that Kenya is a member: East African Community and Common Market for countries of East and South Africa.

The Chairman of the Kenya Investment Authority, Mrs. Anne Wangari  Kirima – Muchoki presented to the Hellenic audience the opportunities in Kenya of 40 million people and consequently in all countries of East African Community of 140 milion people, since these countries have formed an open market of free  shipment of goods and services without duties or other protective measures.

Mrs. Kirima – Muchoki stressed out that there are significant perspectives for Hellenic business persons to form joint ventures in Hellas in order to invest in agriculture, tourism, real estate with funds from Kenya.

Honorary Consul of the Republic of Kenya in the Hellenic Republic, Mrs. Vicky Pantazopoulou stressed out that she is confident that Hellenic companies will do bussiness in Kenya and refered to the necesary steps for a company to efficiently penetrate the Kenyan market.

Mrs. Pantazopoulou described in detail how 1st Hellenic MultiSector Investment & Trade Mission to Kenya will assist Hellenic companies to penetrate Kenyan market and with the pre-arranged B2B meetings the accomplishment of profitable and viable cooperations is ensured.

Finally, Mrs. Pantazopoulou assured all Hellenic business persons that the Consulate of the Republic of Kenya in the Hellenic Republic is at their disposal for any information and support.

-END-