US Ambassador to Kenya Meg Whittman Addressing the Press on July 3, 2023
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United States Ambassador to Kenya Meg Whitman on Monday, June 3, lauded the Finance Act 2023 during a celebration to commemorate the 247th anniversary of the United States' independence at her residence along Kyuna Road.
She noted that the Act contains numerous elements which assure potential investors of a healthy investment environment. She further noted that the Act will generate substantial growth in the Kenyan economy, a fact she claimed has been overlooked by many. The ambassador also discussed how the Act will ensure a transparent tax regime, providing a sense of security for those investing.
“It ensures (the Finance Act) a tax regime that is transparent and consistent and will stay in place for some period of time and give Americans safety on investing in the country. One of the most important elements of the Finance Act that has been overlooked is the changes that this administration made to the investment climate,” Whitman stated.
She highlighted the annulment of the one-third domestic equity requirement, which has for many years barred American companies such as Amazon Web Services from entering Kenya. Whitman also lauded the Act for eliminating the export service Tax. In response to a petition filed by Busia Senator Okiya Omtatah, High Court Judge Mugure Thande issued conservatory orders to halt the implementation of the Finance Act of 2023, which had been signed into law by President William Ruto.
Whitman termed the removal of tax from unrealized gains as an attractive factor to draw in American investors. Kenyan officials present at the event included Immigration Principal Secretary Gerald Bitok, the Principal Secretary for Labour Geoffrey Kaituko, Prime Cabinet Secretary Musalia Mudavadi, and other Ambassadors from Nairobi.
Comments
Someone should tell her the truth.
Oblivious to the suffering of ordinary people, who will pay more of everything. But the imperialistic West won't want to see Kenya free herself from her; but an approval of another Ksh 49b loan from the IMF, which will be looted.
American Interests are the same as the interests of Chicken thieves of Kenya.
Not bank robbers, chicken thieves.
Someone tell the king, he’s naked.
Oblivious to the suffering of ordinary people, who will pay more of everything. But the imperialistic West won't want to see Kenya free herself from her; but an approval of another Ksh 49b loan from the IMF, which will be looted.
USA here for self interest. Multi national corporations such life out of developing countries. They take high quality raw materials like Kenya tea and coffee and blend with crap and sell at high dollar. Same with minerals blending and lining products with gold over Plastic
Rape can also be categorized as “Self-Interest “.
All in all, their “interests” don’t align with the interests of local Kenyans.
Bull crap. American companies invest in China where there are no unions, crime is almost non-existent and work ethics and efficiency are super good. Kenya is opposite of all these, even Kenyans abroad won't dare invest in their own country. Theft, pilferage, violent crime, unions intimidation and disgusting government official corruption is what american investors will find.