Kenya to abolish work permit fees for Hong Kong investors

Kenya to abolish work permit fees for Hong Kong investors

Geza Ulole

Geza Ulole

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Business News
Kenya to abolish work permit fees for Hong Kong investors
By Lee Mwiti
Published: Mar 28th 2018 at 11:29, Updated: March 28th 2018 at 11:29
Industrialisation Cabinet Secretary Adan Mohamed
Kenya plans to exclude investors from Hong Kong from paying permit fees for a period of two years if they put their money in the telecommunication or textile industries.

If the proposal comes into force, the investors from the wealthy Asian territory that is governed by mainland China will pay only $100 (Sh10,000) to secure a work permit.

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Kenya Investment Authority (KenInvest) Managing Director Moses Ikiara, in a speech he read for Trade and Industrialisation Cabinet Secretary Adan Mohamed in Nairobi Tuesday, said Hong Kong was one of the biggest financial hubs in the world and Kenya was keen to tap its expertise.

“The Ministry of Trade is in talks with the Immigration Department to see whether we can attract Hong Kong investors by abolishing charges on work permits for them. We want to come up with all kinds of incentives to attract them here,” said Dr Ikiara.

He was addressing a delegation of Hong Kong businessmen who are in the country in search of investment opportunities under their flagship lobby - the Hong Kong Trade and Development Council.

According to data from the Ministry of Trade, in 2016, Kenya exported goods worth Sh1.6 billion to Hong Kong and imported goods worth Sh6.3 billion from the territory.

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Kenya exports leather, vegetables, fish, and tobacco to Hong Kong and imports telecommunication equipment, cotton fabrics, and computers.

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Hong Kong is ranked number three in the world in FDI outflows, with Sh62 billion going out to foreign countries in form of investment.

Kenya to abolish work permit fees for Hong Kong investors

MY TAKE
Magufuli should not allow this to happen considering we r largest cotton producers. Kenya the usual hypocrite that betrayed the region on mitumba import should not have a chance to host textile industries. That's all I can advice.
 
Geza Ulole said:
ata-offer Incentives zaidi ya zenu! Kama alichukua pipeline ya Uganda hawezi shindwa kwa hili ukizingatia tunalima pamba nyingi na bora zaidi ya Kenya!
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Kama mnalima pamba kwa wingi wapi viwanda vyenu basi? Ilifaa viwe vingi mida hii. Sasa mkingoja kuiga mikakati ya Kenya si ndio mtakuwa mnajirudisha nyuma? Ke na Tz ni nchi mbili tofauti. Mahitaji ya nchi moja hayafanani na ya nchi nyingine. Alafu wawekezaji sio kutoka Hong Kong pekee yake. Kuna nchi zingine nyingi tu.
 
Wala Magufuli hana haja ya kukimbizana na hawa jamaa, Trump ata pata sababu ya kufuta mkataba wa AGOA. Kwasababu kama hizi Obama alitaka kuifuta AGOA, AGOA ilianzishwa kuwasadia waafrika masikini wajikimu kiuchumi, lakini wachina na wahindi wakavamia hiyo biashara na kuanza kuzalisha nguo kuuza Marekani kwa mgongo wa Kenya. Pesa inatoka Marekani inaenda India na China badala kubaki kenya kusaidia watu madikini. Trump atawabana tu its only a matter of time.
 
pingli-nywee said:
Kama mnalima pamba kwa wingi wapi viwanda vyenu basi? Ilifaa viwe vingi mida hii. Sasa mkingoja kuiga mikakati ya Kenya si ndio mtakuwa mnajirudisha nyuma? Ke na Tz ni nchi mbili tofauti. Mahitaji ya nchi moja hayafanani na ya nchi nyingine. Alafu wawekezaji sio kutoka Hong Kong pekee yake. Kuna nchi zingine nyingi tu.
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tutabanana
 
Geza Ulole said:
tutabanana
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Acha leo niwe mkweli, unakuwaga na wanaa sana, kama unaelewa. Does each and every one of your pointless points have to be about Kenya? You have Kenyanised yourself without intending to. Now Kenya is in every inch of your life. In every nook and cranny.
 
pingli-nywee said:
Acha leo niwe mkweli, unakuwaga na wanaa sana, kama unaelewa. Does each and every one of your pointless points have to be about Kenya? You have Kenyanised yourself without intending to. Now Kenya is in every inch of your life. In every nook and cranny.
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The fellow has become GoK's chief critic more than Kenya's official opposition! Let it be known to him that by the time he gets tired of firefighting Kenya's grand march to Greatness,nothing will be left of him to build Tz
 
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