Kenya Investment Authority is working on a strategy to brand and promote Kenya as a business hub in the region.

Speaking during a workshop in Nairobi that attracted officials from six development authorities in the country, Kenya Investment Authority Managing Director Susan Kikwai said the move would accelerate growth.

It would also help the country to achieve Vision 2030 goals, which seek to turn Kenya into a middle-income economy in 22 years.

"Kenya Investment Authority being the institution mandated to market Kenya has come up with the strategy that will build the product, brand and sell Kenya to potential domestic and international investors," she said.

The product development and marketing aims to achieve faster economic growth through investment.

The workshop held at Utalii Hotel explored the possibility of partnership with local development authorities.

Under the plan, regional development authorities, counties and municipalities, Export Processing Zones Authority, Kenya Industrial Research Development Institute and Kenya Industrial Estates were identified as key stakeholders.

Push campaign

The ministries of Finance, Lands, Energy, Tourism, Roads and Planning and Vision 2030 will be involved as well as National Environment Management Authority, Attorney-General's office and Kenya Revenue Authority.

She said while Vision 2030 had identified tourism, manufacturing, agriculture, ICT, financial services, wholesale and retail sectors as the drivers of the economy, they are not the only industries that will be developed.

"In spite of the flagship projects plan, there still exist massive investment gaps in the stated sectors. The implications are that sufficient amounts of foreign direct investment will be required to complement domestic direct investments," she said.

She also said that Kenya continued to attract investments despite rise in production costs due to rising fuel prices, but most went to Uganda and Tanzania.