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BCCI:How to do business with Kenia









 
On 27 September 2011, the Bulgarian Chamber of Commerce and Industry hosted the seminar “How to Do Business with Kenia”. The seminar was organized with the cooperation of the Embassy of Kenya in Berlin and the Honorary Consulate of Kenya in Sofia.
The President of BCCI, Mr. Tsvetan Simeonov opened the seminar and emphasized the excellent relations of the Chamber and the Embassy of Kenya, which resulted in this seminar.
H.E. Osinde, Ambassador Extraordinary and Plenipotentiary of Kenya to Bulgaria made a detailed presentation of the geographical and economic characteristics of Kenya. This beautiful African country has population of 38.2 million people /in 2010/ which is constantly growing. For the last 10 years the population has grown with about 1 million people per year. The contry has GDP of USD 35 billion. The GDP per capita amounts to USD 875. 23% of GDP comes from agriculture, 13% - from industry and 16% from tourism. Since 2008, the economy of the country has been growing. After the last presidential elections in 2007 the government and citizens united their efforts to improve the economic and social climate in Kenya. In 2008 economic growth was 1.5%, in 2009 – 2.6% and in 2010 – 3.6%.
Ambassador Osinde presented his country as a reliable economic partner due to the stable economic environment, the growing role of the private sector and the increasing trust of business and consumers.
Kenya is also part of the East African Community, an economic block which consists of 5 African countries. Trade between those countries is duty free. The agreements of the Community allow free movement of goods, people and capitals. Thus, Kenya’s market has reached 133.5 million consumers.
During the seminar Vision 2030 was presented – the governmental plan, whole aim is to make Kenya a prospering country with many competitive advantages. Key sectors in this economic formula are tourism, agriculture, IT and telecommunications, power engineering and infrastructure.
41 Export Processing Zones have been differentiated in Kenya. They provided conditions for production of various goods as long as 80% of the ready products are exported, while the remaining 20% are sold on the local market. At the moment, 83 companies from all over the world operate in these zones. They provide extremely beneficial conditions for foreign investors, such as:
- investment deduction on new investment in EPZ buildings and machinery
- exemption from VAT and customs import duty on inputs 
- exemption from VAT and customs duty on capital goods
- duty free import of computer equipment
- total and partial personal tax deduction
- additional privileges for the workers in these zones
Companies willing to invest in Kenya should contact the following two orgazations: Kenya Investment Authority and Export Processing Zone Authority.
The following opportunities were outlined for Bulgarian companies willing to benefit from the favourable business conditions in Kenya:
- Construction of hotels, free time, leisure and tourist facilities. The country plans to set up several resorts.
- Flower distribution – Kenya is the biggest exporter of cut flowers in the world.
- Fruit and vegetable distribution /beans, pineapple, mango, grains, etc./
- Import of agricultural equipment, fertilizers, seeds
- Joint activities in the field of IT and telecommunications
- Joint activities in the solar, wind and bio energy sector
- Participation in tenders for infrastructure construction – roads, railways, pipelines, etc.
- Construction of houses, due to the lack of housing premises. Currently the country is implementing a programme for settling of Kenyan citizens in modern buildings in order to remove entire neighborhoods with temporary buildings. 
Ambassador Osinde explained that company registration in Kenya takes up one day and administrative services are provided on the principle of “one-stop-shop”.
The Honorary Consul of Kenya to Bulgaria and member of the Board of BCCI, Ivaylo Dermendzhiev explained some specific business conditions, which Bulgarian companies should keep in mind due to the lack of Kenyan Embassy in our country and Bulgarian Embassy in Nairobi. Kenya has not signed the Hague Convention and has specific document certification procedures. Besides, the Honorary Consul to Bulgaria can issue one-time visas for Kenya. 

27.09.2011

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