Blog Post

13 May
By: root 0

KEPSA and the Ministry of Industrialization seek to improve Kenya’s economy so as to attract investors

On 11th April 2014, KEPSA held a meeting with the Cabinet Secretary for Industrialization and Enterprise Development, Mr. Adan Mohamedat the ministry’s boardroom. The aim of the meeting was to seek the best way forward in improving Kenya’s economy and making it more competitive to attract investors.

The meeting was held following a Global Competitive Index (GCI) survey where,though Kenya made a ten-point improvement in the global ranking from position 106 in 2012 to 96 in 2013 with a mean score of 3.85 over the possible maximum of 7. However, there is room for improvement to make Kenya more competitive to attract investors.
During the meeting, Dr. Kamau the lead researcher of the World Economic Forum (the body that prepares the Global Competitiveness index Report) mentioned that in addition to government putting more effort in improving the competitive environment, Kenya’s ranking is also affected by technical research issues such as: Non/inadequate participation of big firms/private players in the industry; filling of the questionnaires by irrelevant persons with limited information; and lack of awareness of the survey and its value for enhanced attraction of investments.
In addressing, these challenges it was agreed that:

  • The CEO’s of select companies, including KEPSA personally participate in filling up the questionnaires (that can be accessed through this link ********** ) to enhance data quality.
  • KEPSA urges its membership in the list of select companies to participate in the survey.
  • A follow up meeting to review progress,will be held before the completion of the survey, due for 30th April 2030.

The Global Competitiveness Index (GSI) assesses the competitiveness landscape of 148 economies, providing insight into the drivers of their productivity and prosperity. The Report series remains the most comprehensive assessment of national competitiveness worldwide. The indicator, generally captures perceptions on the overall economy; infrastructure; innovation and technology; foreign trade and investment; domestic competition; company operations and strategy; government and public institutions; education and human capital; corruption, ethics and social responsibility; travel and tourism; environment and Health to compute the average.
In attendance wasalso Mr. John Mwendwafrom the Ministry of Industrialization and Mr. Chris Shimba from the KEPSA secretariat.

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