A new bill that proposes to establish Kenya Investment Corporation and operationalize a centralized facility for purposes of providing government services and regulatory requirements for investors is currently undergoing public participation.
- The Investment Promotion and Facilitation Bill 2023 proposes to convert the Kenya Investment Authority to the Kenya Investment Corporation thereby giving it more functions beyond investment promotion and facilitation.
- Kenya Investment Authority Managing Director June Chepkemei said the bill will establish a One Stop One Go Centre to make investment processes simpler, much easier and seamless.
- KenInvest provides information on investment opportunities and sources of capital, information to investors on the business climate, operating rules as well as investment opportunities and sources of capital.
“The facility may host government regulatory and service provision agencies including, agencies responsible for; but not limited to, registration of business; tax and customs administration requirements; registration and payment of taxes; immigration; issuing of permits, licences and approvals,” she said.
“We are looking at ways to make investment journey in the country more comfortable, enjoyable and refreshing by introducing a one start-one go centre; to be more facilitative and predictable,” she said.
Others proposed to serve under it include labour compliance obligations Investment Promotion and Facilitation Bill, 2023; environmental conservation and management; land administration; development control and enforcement 26; business licensing services including the relevant county government; generation and transmission of electricity; overseeing the construction industry; promotion and facilitation of exports in Kenya; for Special Economic Zones; Funds of the Corporation and any other service that the Board may consider necessary.
June Chepkemei Appointed as KenInvest’s Acting Managing Director – Kenyan Wallstreet
