A County Investment handbook has been launched to guide Governors on how to attract into and manage investments in their respective counties.
The Handbook has been prepared as part of the cooperation agreement between the Government of the Republic of Kenya and the World Bank Group (WBG).
Activities were carried out under the Kenya Investment Climate Program, implemented by the Trade and Competitiveness Global Practice of the World Bank Group, in partnership with the United Kingdom Department for International Development (DFID) and the Dutch government.
The first version of this Handbook was developed by the Kenya Investment Authority (Ken Invest).
The Handbook was subsequently edited and revamped by a World Bank team to include more updated and nuanced approaches to investment policy and promotion.
Peter Munya, Cabinet Secretary Ministry of Industry, Trade & Cooperatives noted that Investment is vital in the realization of the prosperity aspirations of various counties.
“We require investors to set up companies in partnership with local businesses to teach our young people vital skills, build the economies of the counties and create jobs across the country,” observed Munya
He added that Counties have different strengths and potential, and should attract the appropriate investments in order to effectively take advantage of their natural endowment and their competitive and comparative advantages.
However, counties have to package and present themselves well in order to attract and nurture the required investments.
“Aware of the capacity constraints facing our county governments, my ministry has developed this Handbook to guide the county governments on how to identify and promote the investment opportunities, assist investors to enter and operate with ease and success, and generally support private investment in their counties,” noted Munya
“I urge all Governors to make use of this Handbook as a tool to guide them on how to attract into and manage investments in their respective counties,my ministry and its various state corporations are ready to collaborate and cooperate with County Governments in this process,” said CS Munya.
Ms Betty Maina,Principal Secretary State Department for Industrialization Ministry of Industry, Trade and Co-operatives observed that it is the role of the national government to create an overall enabling environment that attracts potential investors and spurs economic growth and development in Kenya as a whole.
“It is therefore important for the County Governments to adopt best practices in investment promotion and facilitation, as documented in this Handbook,” she said