thank you very much. announcer: kenyon president william ruto delivered remarks on business investment in africa during u.s.-kenya business forum . topics include u.s.-kenya relations, climate change, and the importance of public-private partnerships including investments from google, microsoft, and a mastercard. ♪

>> [speaking another language] so what a wonderful morning this is been of a fantastic visit, these findings are just the next step in an important journey together between the united states and kenya, and to the leadership of the chamber, suzanne clark and the leader of the chamber to our incredible and talented ambassador meg whitman, to our secretary of commerce gina raimondo, you have laid a wonderful foundation for a successful day here, and i was thrilled to see my friend, an

accomplished and talented business leader a part of today's developments. kenya is a special place for me because 40 years ago i was a student at the university of nairobi, and i just this year had a reunion with these students as we reflected about the impact kenya had on each of our lives, but there is a positive trajectory today that is in large part because of the leadership of president ruto. there is as we all know a debate in the world about what is the path forward? what is the path for development, i hope, and opportunity? and on the continent of africa, kenya is showing up at that i embrace and celebrate, a path rooted in democracy, transparency, the rule of law, and the free enterprise system, and because of president ruto's and his energy and division, he

is demonstrating what that looks like. i just mentioned to the president, he has made a very tough choices, into he is in the midst of some difficult leadership moments, and we in the united states need to recognize that and work with him. you just saw in that video powerful and important choices among conservation and around preservation of the incredible wildlife and open spaces partnered with putting human development at the center. many here know that kenya has incredible renewable energy resources as was just announced a data center power to completely by geothermal energy, and president ruto is about climate at the center of economic development issues in kenya. we in the congress have our part to play in making the dream of the silicon savanna and the reality of manufacturing and development for export come

through. we must reauthorize the african growth and opportunity act. [applause] and when i was lasting kenya with a delegation to we visited a number of manufacturing facilities, one that is specifically now in kenya employing thousands because the apparel industry there has the opportunity to diversify away from china and from other east asia manufacturing hubs and to the opportunities provided in the american markets. i have a bipartisan bill to extend. we must do it soon to provide certainty for all who would seek to increase their investment in east africa. we must do more for our free partnership, advance the negotiations, which are a promising start in a promising start and move forward with the free trade agreement. that would be the foundation upon which we could build the next chapter of u.s.-kenya partnerships, and i look forward

to working with president ruto, president obama, vice president harris, and secretary rolando for delivering on that. thank you so much. introducing the honorable rebecca miano cabinet secretary of the ministry of investments trade, industry at the republic of kenya. >> thank you. thank you very much. my role today is to invite the president of the republic of kenya, but before i do that i will say one or two things. this state visit follows a commitment of deepening

investment ties between the united states of america and kenya. we will ensure robust participation from the private sector. my ministry is committed to promote a strong business enabling environment and to facilitate trade and investment opportunities in kenya, forecast on key priority sectors, including agriculture, infrastructure, digital economy, and others. and other strategic trade and investment partnerships. we are negotiating high standard commitments in areas that will support and promote trade, including the msme and

corruption, liberal and environment among others. i have assured, mr. president, that what is now required is the development of execution and to maintain momentum to bring to fruition what has been discussed and agreed during this state visit. i have assured the president that we will focus on implementing each amount every outcome of this visit. we will keep focused and create accountability and consistently report on the progress that we are making. and now, it is my pleasure and my honor to present the fifth president of the republic of

kenya, who is an ardent supporter of business, trade and investment, mr. president. [applause] >> please join us in welcoming his excellency dr. william s. ruto president of the republic of kenya. pres. ruto: thank you. thank you very much. gina raimondo, u.s. secretary of commerce, the president appear c.e.o. of the u.s. chamber of commerce, business leaders and executives of u.s. corporations, ladies and gentlemen, on behalf of my delegation i thank you for the excellent work they have put into the preparation of this breakfast meeting. i'm delighted to have this

opportunity to share with you various opportunities to leverage the strongin during and dynamic -- strong, enduring kenya and u.s. relationship and further enhance the partnerships between our business communities. this gathering comes just a month after the summit of 2024 in inside robbie. at -- nairobi. in that summit many of the entrepreneurs i see had a platform to collect and and interact with their counterparts in africa. this want gives us yet another chance to reflect on the outcomes of the nairobi summit and deliver in the way by which we can inject momentum into the bilateral trade and mac mac use

them. we had a number of government to government and government to business deals and while additional agreements were unveiled earlier in the week during my visit here in atlanta. today i have witnessed the signing of yet another five deals at this event leaving no doubt the direction of our common endeavor and shape of the future we are building together. ladies and gentlemen, i take -- i will take a few minutes to outline the reasons for kenya's strong economic interest in promising collaboration and trade and investment between kenya and u.s. businesses. the aim of my address this morning is to affirm your confidence in entering or expanding your operations in or markets and answer the question

what can we do for you and what can we do together. our commitment to eradicating unemployment and inequality through the undergives us the opportunity to forecast on effective strategies to deliver rapid and inclusive growth that is enhances productivity of millions of citizens. to do there we will promote strategic investments within the following sectors which are the strategic pillars of our planet. universal healthcare, food security, agriculture processing, affordable housing as seen in the assignment. micro, small and medium enterprises and the big space around digital infrastructure.

investment to enhance the productivity of gagri creating employment opportunities in the agriculture sector and food sector. as was mentioned by my good friend senator coons. it is a big space for us and we have major capabilitys in that space and we have enhanced our tax incentives to facilitate more companies to set up and expand our access to the market to the u.s. likewise, investment in the universal health coverage strategy includes vaccine and pharmaceutical manufacturing and production of medical commodities and biomedical supplies. this enhances or capacity to provide high quality health

services to citizens, promote self-sufficiency as we were rudely told by covid-19, export to meet regional demand and create significant employment opportunities. specifically, we have in kenya a special economic zone that will focus on pharmaceutical manufacturing, and i invite companies who want to explore opportunities in that space. aside from that, giving incentives on buying from local manufactured products, you have the benefit of access to the east african market of 300 million people and by extension using the african continental area access to 1.4 billion people. if you are looking for market, if you're looking for

opportunity, there you are. further, our commitment to enhance or technological system to attract companies and promote the incubation and scale up have silicon african. our digital super highway program which involves laying an extra 100,000 kilometers of fiber optic infrastructure and establishing digital nationwide to create a system to promote the digital service and products. additionally, leveraging on our huge green energy potential that enables kenya to quickly become a global leader in the establishment of world class green data infrastructure.

you see this morning we signed the deal which we have witnessed between microsoft, eco-cloud and g42 to build a one gig watt data sphere using u.s. technology, capability and kenya's geothermal resources. demonstrating that the world is paying attention and investors like what at the see in kenya. [applause] pres. ruto: kenya's largest company have doubled workforce with 4,000 jobs of american clients to highlight the importance of i.t.c. sector.

just two weeks ago i was opening one of the largest facilities. that is deploying technology to companies at&t, jetblue and other companies here in the u.s. additionally, kenya leads in e-mobility. yesterday we had a conversation about how we are hosting over 30 companies with them choosing kenya to make great things happen around e-mobility. we are pushing the horizon. the kenyan government, in the next poles framework, we will be eliminating all taxes for companies that will locally manufacture 100,000 two wheeler and four wheelers in kenya to

provide market and government of kenya will be buying the first 5,000 units of e-enabled portfolio vehicles to facilitate government transportation and inspire companies that want to inspire investment in that. [applause] pres. ruto: our affordable housing program to construct 200,000 units annually over the next five years is a clear investment opportunity which also will not just create jobs but also creates opportunities for companies that can deploy modern technology in building houses affordably, sustainably and cost effectively. kenya is committed to attracting a lot of foreign direct investment by creating a stables transparent and predictable

business environment continuously enhancing framework, regulatory and providing incentive cost-effectively. s geo strategic position makes us the gateway to east and central africa as well as the entire african continent and nairobi is a strategic choice for international companies, international organizations and n.g.o.'s seeking to establish or expand their footprint in africa. kenya. [applause] >> thank you very much. you may want to know that kenya hosts the only u.n. agency and u.n. headquarters in the global south and it is globally known for our well educated and we are proud of them highly skilled and

enterprising population including young men and women whose motivation reflects the entrepreneurial spirit of our nation. we spend the highest budget on education, training and skill. and we do not consider it as spending it. we consider it an investment because we have seen the return from our huge very well trained, motivated, creative, innovative human capital. through intensive and consistent investment in modern ever infrastructure to improve transport, communication and electrical activity it enforces its unique position as a gateway

to east, central and southern africa. it is wise to point out that 92% of or national grid is -- of our in addition grid is powered by global energy and we aim to have 100% clean energy grid by 2032. [applause] pres. ruto: i know whenever i mention this, many people wonder how we have done it. i want to tell you it only happens in kenya. this places kenya in the lead in manufacturing, industrialization and production for the future while being in harmony with nature. recognizing that private sector plays requisite and the role private sector plays and is consistent and predictable of

the environment including tax benefits for long-term investment so people can decide what they want to do and looking at the great horizon kenya has updated our tax policy guidelines. we are committed to continue this regime and we have agreed that we are going to have a steady tax regime for the next three years. let me also say we are doing this to meet the standards of stability and predictability that is required for any nation. so, minimum three years and in any event until our tax code meets the highest starpbz standards of applicantability. we have reviewed our digital and aligning it for cooperation and development commonly known as

oecd. it will be processed within six months in which taxpayers can have their claim of future tax liability. we have had a big problem with companies who tell us that our tax refunds has been delayed. so we decided we need what the lawyers call quid pro quo. we need something to make it accomplished so any tax refunds verified will be paid within six months or up to six months those

refunds with any tax that you are supposed to pay to government without any reference. [applause] pres. ruto: that way, everybody has an incentive to do the right thing. to accelerate the growth of high innovative entrepreneur ship and incubation of next global brands companies are exempt from paying tax on so we can build the next brands of companies. to encourage the growth we have abolished the rule of having a minimum 30% domestic equity. we google told me, mr. president, in your regulation we are supposed to have 30% equity

for us to set up company in kenya. tell me which company is ready it pay 30% equity on google and there was no company. so we decided to removed the requirement at together because it was not making sense. today understood our new institutional position in considering of the regulatory regime over 100 foreign and local companies are thriving in our economic zone and every other parts of our economy. on these tkphreblg global brands they are growing in our export manufacturing facilities. last year american chamber of commerce summit in nairobi we committed to review our economic zones to remove impediments to

attracting foreign investment in higher numbers. it is catalyzing invest many, appear creating jobs an nationals wealth. the exports to the u.s. reaced $544 million with brands electric levi and lee and creating over 12,000 jobs in the last that years. we are trying it enhance the economic zone scheme by the ends of this year and i have given very firm instructions to accelerate that un -- endeavor. our paper -- partnership has improved the environment to open discussion with investors and

american mission of inside r.b.i. and -- nairobi. forums like these are crucial opportunities for us to answer the critical question that implicitly arises when i meet investors, what can i do to you. that is the constant question. it sustain the momentum of our progress the ty lateral -- try lateral business has been launch ed in a mandate and -- and mandate today meet every quarter to address challenges created by investors in kenya and specifically u.s. investors in kenya. our readiness to participate in processes like this are what

kenya values the 400 u.s. companies away engage with and american chamber of commerce summit and hundreds that have chosen kenya as the deposition nation for regional -- destination to ensure that companies like amazon, apple, citigroup, coca-cola -- i had an opportunity to witness the investment by coca-cola of another $175 million in our countries. dell, del monte, general electric, i.b.m. microsoft, oracle, synergy. do i continue? all of these -- [applause] pres. ruto: and i have not mentioned them in orders of any

priority. these are all of our companies and we have fantastic relationships with them. we want all of them to guarantee maximum investments by working in kenya, working in kenya and working with kenya. and the entire government it make kenya the best place it to do business globally has grown fruit. it is ranked the third most attractive place to do business in africa by the world bank. i appreciate that. [applause] pres. ruto: i appreciate the american chamber of commerce and kenya leadership and u.s. a.m. bossor to kenya, mega -- meg whitman.

meg whitman is a godsend and she is done sometimes single handedly with her team in nairobi what orders narrowly would be in the realm of miracles. her leadership in establishing and sustaining conversations and dialogue and pursuing implementation through effective collaboration has been outstanding. it has been fascinating to observe her in action. she that is notably introduced a culture in my administration. we have addressed some of the issues i mentioned in my statement it conclusion. it feels at least -- it was at least nine. this year she brought another

list of nine that i promise that our team willfully address to for the strengthen the business climate. here is an historic opportunities it unlock kenya's vast potential to increase opportunities for trade 20 deliver profit blgt to millions of kenyans for now and generations to come. kenya works and we mean business. >> when it comes to investments we are ready for you. together, let's bring your vision to reality and let us

build kenya together with your companies. what we can do for you in 2024, that is my statement. thank you very much. god bless you. [applause] >> please join us in welcoming to stage suzanne p. clark president and c.e.o. of the u.s. chamber of commerce for the presentation of the u.s. africa business center's outstanding leaders awards. >> thank you so much, mr. president. kenya works. what can we do for i. and we mean business. the chamber works and we mean business and what can we do for you. thank you for those insightful

remarks. in recognition of your work to promote solutions and steadfast effort to grow kenya's economy it is my honor to presents to you the u.s.-africa business center's outstanding leaders awards. president ruto is just the fourth ever recipient of this award. we are so grateful for your leadership and we are committed partners. thank you, mr. president. pres. ruto: thank you.

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