President Uhuru Kenyatta has appreciated the United Arab Emirates' declaration that it will create an entrepreneurship and innovation centre in Kenya.
President Kenyatta and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince and Deputy Supreme Commander of the UAE Armed Forces, had a chat about it.
Kenyatta had travelled to the United Arab Emirates on a working visit, where he touted Kenya as Africa's top investment destination. H.E Sheikh Mohamed bin Zayed has authorised the Khalifa Fund for Enterprise Development to establish an innovation and entrepreneurship hub in Kenya, according to the Emirates News Agency.
The Kenyan innovation and entrepreneurship centre will focus on developing programmes, projects, and workshops that will help aspiring and established Kenyan entrepreneurs incorporate innovation into their enterprises in order to enhance the country's Gross Domestic Product.
Sheikh Mohamed bin Zayed Al Nahyan's directive to establish a centre for innovation and tech-focused entrepreneurship in Kenya, according to Mohamed Ali Al Shorafa Al Hammadi, Chairman of the Khalifa Fund and the Abu Dhabi Department of Economic Development, is part of the UAE's ongoing commitment to empowering talented innovators and entrepreneurs globally.
'We provide entrepreneurs with resources, assistance, and guidance through centres like this, allowing them to contribute to their local and global economies, resulting in positive economic ramifications and security,' Al Shorafa added.
He went on to say that the United Arab Emirates and Kenya's collaboration through the Khalifa Fund would see Kenya achieve the same levels of success as the United Arab Emirates.
Sheikh Al Nahyan expressed his delight at being one of Kenya's top business partners, describing President Uhuru's attendance at the exhibition as a testament to the strength of the two nations' ties.
The World Bank and the International Monetary Fund have named the Khalifa Fund as the best in the world in their Global Monitoring Index study.
President Uhuru Kenyatta stated that creating an enabling climate to encourage investors to invest in Africa in order to strengthen the continent's economy is an unavoidable option.
Kenyatta reassured foreign investors that the country is safe, promising, and ready to do business. He said that his government has put in place a legal framework that meets international standards for investor protection. The protection of investors' property rights is the most prominent.
President Kenyatta remarked, 'We need to be the welcoming party...do what these investors demand of us to come into our nation and bring their investment, create jobs, and help us improve our economy.'
He went on to say that the country has economic and political stability, as well as a large consumer economy, a fully liberalised economy, modern infrastructure, and a young, competent, and productive workforce.
President Kenyatta praised Kenya as a place of choice for international enterprises and a prominent destination for foreign direct investment in the region during the global exposition, highlighting the country's rich cultural and economic diversity.
Kenya's president stated again that his country is prepared to form new commercial partnerships with Gulf Cooperation Council members and other countries.
The United Arab Emirates is totally committed to investing in Africa, according to studies, and is only second to the Republic of China in terms of investment. Senegal, Mozambique, Kenya, Egypt, Algeria, Rwanda, and the Democratic Republic of Congo are among the countries where the country has set foot.