State moves new Bill to create conducive business environment
Business
By
Edwin Nyarangi
| Jun 03, 2025
A Bill that seeks to amend various laws to create a conducive environment for doing business is currently before the Senate.
The ="https://www.google.com/url?client=internal-element-cse&cx=011965659370381653902:7awkdkhs2_y&q=https://www.standardmedia.co.ke/business/enterprise/article/2001505940/state-reviews-laws-to-improve-business-operating-environment&sa=U&ved=2ahUKEwipmpixmtWNAxWdUaQEHVJWDm4QFnoECAUQAQ&usg=AOvVaw29zcun7kkITXYS05OxA4rl">Business Laws (Amendment) Bill< (Senate Bills No. 52 of 2024), moved by the Senate Majority Leader, Aaron Cheruiyot, requires the Investment Promotion Authority to provide government services at a centralised facility.
The Bill that is currently in the second reading requires agencies stationed at the centralised facility to provide services to investors in accordance with their functions and mandate.
“This Bill seeks to increase the number of permits that will be issued to foreign direct investors and facilitators for foreign investors who apply for an investment certificate. This is by amending Section 13 of the Investments Promotion Act,” said Cheruiyot.
READ MORE
Police arrest two robbery suspects, recover AK-47 in Buuri East
Why IMF, World Bank hand in Kenya budget faces pushback
Doctors end 41-day strike after signing a return-to-work formula
With 66 days left, will Kenya really be ready to host CHAN 2024?
With 67 days left, will Kenya be ready to host CHAN 2024?
World Football Day 2025: How global organisations are using football to eradicate poverty
EACC arrests two over bribery at Mumias Level 4 Hospital
US accepts Boeing jet from Qatar for use as Air Force One
Euro 2028 hosts must qualify but two places reserved for them
Small Faith' faces Yavi and Chemutai in Doha Diamond League meet
He said the World Bank released a report last week advising that for Kenya to regain its competitiveness, there is a need to make amendments to ensure the growth of the various sectors of the economy.
Cheruiyot said that with interventions such as the ="https://www.google.com/url?client=internal-element-cse&cx=011965659370381653902:7awkdkhs2_y&q=https://www.standardmedia.co.ke/national/article/2001518286/mutua-and-orwoba-clash-during-senate-probe-on-foreign-jobs-scandal&sa=U&ved=2ahUKEwjjruLqmtWNAxWWQUEAHWpeCVcQFnoECAMQAg&usg=AOvVaw3KzS_Y-HiL5BJkCzXrYsEt">Kazi Majuu Programme< and the promotion done by the State Department of Diaspora Affairs, Kenyans are sending home over a billion dollars, with the funds being used to set up businesses.
“If we can come up with policies that will ensure that we will grow that by 100 per cent, that is real growth that will be realised because that is money that has come back to this economy,” he said.
Cheruiyot told the House that Kenya spends close to Sh500 billion importing food alone, such as wheat, sugar, rice, and cooking oil, pointing out the countries that we import from: Pakistan for rice, Malaysia for edible oil, and Russia and Ukraine for wheat.
“It is because they have listened and have taken time to understand what they would do for their ="https://www.google.com/url?client=internal-element-cse&cx=011965659370381653902:7awkdkhs2_y&q=https://www.standardmedia.co.ke/amp/business/article/2001510562/reforms-in-business-laws-a-game-changer-for-borrowers-financiers&sa=U&ved=2ahUKEwipmpixmtWNAxWdUaQEHVJWDm4QFnoECAcQAg&usg=AOvVaw0rNaiUUu6UycEY2-uXpU8m">private sector to become more competitive< as well as ensure that they produce sufficiently for their country of origin and enough to export to other countries,” he said.