On the sidelines of the 10th World Trade Organization (WTO) Ministerial Conference, the Kenya Investment Authority (KenInvest) in collaboration with United Nations Conference on Trade and Development (UNCTAD), yesterday launched eRegulations – Kenya’s first e-platform for investment facilitation, as the country endeavors to enhance ease of doing business.
Following Kenya’s upgrade on the World Bank ‘Ease of Doing Business’ 2015 ranking and enhanced investor sentiment, the e-portal – kenya.eregulations.org – was launched in conjunction with UNCTAD to provide existing and prospective investors with a one-stop guide to Kenya’s investment regulatory framework.
Launched in conjunction with UNCTAD, eRegulations Kenya is an online database designed to make administrative procedures transparent, swift and efficient – an essential part of KenInvest’s strategy to enable the environment for private sector investments.
Speaking during the event, UNCTAD Secretary General, Mukhisa Kituyi, commended the idea as one that will go a long way in eliminating unnecessary bureaucracy that has stood in the way of prospective investors.
“This system shows it is possible to improve administrative procedures without changing laws. Just simplifying and clarifying what already exists at the level of procedures and implementation will lead to better services,” Dr Kituyi said.
The portal is expected to provide finer details such as how to start a business, getting it registered and how to apply for work permit and visas.
KenInvest Managing Director, Moses Ikiara, said this will cut investment costs since investors will be informed and empowered to make sound investment decisions.
“The portal will tell you what types of companies you can set up in Kenya and the process of registering them. It even tells you which building you can go to when you want the procedure completed and the person who will serve you,” Ikiara said.
eRegulations Kenya provides investors and entrepreneurs with total transparency on rules and procedures, through detailed, practical and up-to-date descriptions of steps to go through, as seen from the user’s point of view. While facilitating the simplification of procedures, the system also aims to promote and stimulate public-private dialogue on rules and procedures – with the ultimate aim to enhance ease of doing business in Kenya.
Source: CPI Financial