Kenya is planning to host an international investment conference from Nov. 22 to 25 to attract investors for projects, including expansion of airports, railway, tourism, roads, dams, and energy projects, Global Post reported.
Kenya Investment Authority Managing Director Moses Ikiara said the investment summit would present investors with “business unusual plans” in wind energy, solar power, nuclear power plants and long-term projects in the oil, gas and geothermal sectors.
Ikiara said the taxation environment, with corporate tax at 30% for resident companies and value added tax of 16%, the country has a favourable investment scene for international firms to operate locally.
Amongst the largest project to be unveiled during the conference is the construction of 140 megawatt geothermal power generation at OlKaria in Naivasha, 100 km outside Nairobi, at a cost of $554m.
Kenya is due to become one of the fastest-growing economies in east Africa, with a growth forecast of 6.0% in 2015 and 6.6% in 2016, the World Bank said.