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Romania urged to explore investment opportunities in Kenya
ROMANIAN entrepreneurs are being asked to explore investment opportunities in Kenya, particularly in areas such as textiles, pesticides and horticulture. The chairman of the Kenyan community in Romania, Dr Ambrose Kibos, said Kenya offers benefits to investors, which include a liberal economic regime, cheap labour, investment guarantee and protection, and good market access to developed countries such as the US.
Entrepreneurs could also set up units in the export processing zone, where they could take advantage of the dutyfree and quota-free access to the US, provided under the Africa Growth Opportunities Act. Mr Kibos assured the traders that Kenya has liberalised and removed obstacles that previously hampered the free flow of trade.
He cited exchange controls, import and export licensing, as well as restrictions on remittances of profits and dividends, all of which no longer exist. Meanwhile, the Kenya Co-operative Creameries managing director, said during the weekend that the Eldoret plant would soon be revived.
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