Ladies and Gentlemen,

It gives me great pleasure to join you this morning, during this auspicious occasion of laying the Foundation Stone for the Sameer Business Park.

The business park whose estimated cost is over 2.2 billion shillings is a clear testimony of the commitment and confidence of the Board and Management of Sameer Business Park Limited in the future of our economy. It is also a sign that the policy measures implemented by the government have improved Kenya’s business environment, and our country is ready to be a destination of choice for local and international investors.

I take this opportunity to commend the Board and management of Sameer Group of Companies for this initiative. Sameer Group of Companies has invested heavily in diverse sectors of our economy. This investment is therefore a valuable addition to their business portfolio. But more importantly, the construction of this park will create many jobs for the youth now, and thousands more when it becomes operational. I am emphasizing job creation for the youth because we now have over 3 million unemployed youth and twice as many underemployed elsewhere. Many of them have primary or secondary education, while large numbers have tertiary and university education.

Their greatest need is to find good jobs. Nevertheless, I want to make it clear that although the Government is implementing innovative strategies aimed at enhancing job opportunities, we can only facilitate this process. It is the private sector through investments such as this one, that creates jobs. I am therefore pleased to see that one of the main business lines for this facility will be Business Process Outsourcing. The Sameer Business Park will position Kenya to compete in the dynamic and rapidly growing ICT sector.

The Government, under the Vision Twenty Thirty flagship projects also plans to invest in a Business Process Outsourcing park in Nairobi with world class infrastructure geared at attracting global businesses to Kenya. Although the sector is relatively new in Kenya, it has enormous potential for employing hundreds of thousands of young people, if given the chance to grow and develop in our country.

As Government, we are determined to make Kenya the top Business Process Outsourcing destination in Africa over the next five years. This will create a new source of high quality jobs for our young people, and expand the portfolio of industries and sectors that Kenya is regionally and globally competitive in. We are aware of the challenges that we must overcome to achieve this goal. To this end, we are prioritizing improvement and expansion of roads, airports, seaports, electricity, water, telecommunications, railways, and other supportive infrastructure that will enable various sectors of the economy including, ICT to thrive.

We are also continuously improving the business environment. For instance, the promotion of a 24- hour economy, as well as implementation of other institutional and regulatory measures over the last few years, have considerably improved the environment for doing business in Kenya. To ensure policy support for these measures at the highest level, we have now created cabinet level portfolios for Industrialization, Trade, Nairobi Metropolitan Development, and the Vision Twenty Thirty.

I am aware that the business community and in particular the international investors, have often expressed concern about the slow pace in the administration of justice. I would like to note that we are addressing these concerns. Indeed, we have recently improved the terms of service for legal officers in this sector. I believe that this will enhance the strength and capacity of the judiciary and state law office to provide better services at the business registry, and in terms of adjudicating contractual disputes.

Other enabling sectors such as lands, revenue collection, local authorities, immigration, police and other security services are also undergoing progressive reforms to ensure delivery of better services to local and international clients. Our objective is to see the development of a competitive and attractive business environment, affordable infrastructure, strong law enforcement and rule of law. If we achieve these goals, Kenya will become a hub for local and international investment because of its strategic location in the region. And more importantly, the government’s commitment is to see that the enabling infrastructure for business is spread throughout the country. This will ensure that investors have a wide choice as to where to locate their businesses. I would like to encourage investors to put up factories and facilities in all the eight provinces in Kenya, so as to ensure equitable job and business opportunities to our youth throughout the country.

Ladies and gentlemen,

I wish to take the opportunity to reiterate that Kenya is back and open to business. We are fully on the way to recovery from the post-election challenges. I believe that the future of this country is bright, and that we have what it takes to continue to provide any investor who chooses to locate in Kenya a competitive entry point into the East African Community and COMESA markets.

Indeed, the regional markets available to investors located in Kenya are about to grow even larger. For instance, last week we held a Tripartite Summit, bringing together the East African Community, the Common Market for Eastern and Southern Africa, and the Southern Africa Development Community in Kampala, Uganda. The Heads of State and Government from the region discussed proposals for a Pan-Regional Free Trade area covering 26 countries and reaching over 650 million people. The details are now being worked out, beginning with the idea of a free trade area, and later developing towards a customs union. We expect these proposals to be implemented over the next few years, and investors located in Kenya will have preferential access to markets reaching half of the countries and people of Africa. This is therefore an opportune time for investors to come to Kenya in preparation for the expanded markets that will be realized in a few years time.

I also want to assure investors that my Government will facilitate all those who want to invest in the country. This is why my Government is continuing to put in place various investment incentives. For instance, in order to reduce the cost of electricity, I recently directed that tariffs on electricity cost be lowered. The government has also allocated substantial resources towards construction of the submarine Fibre Optic Cable. This is a major investment that should re-position Kenya in the global I.C.T. industry. The anticipated reduction in connectivity charges will greatly favour Kenyan-based firms in the fast-growing business outsourcing sector.

In concluding my remarks, Ladies and Gentlemen, I would like to note that the global financial crisis that we have witnessed in the last few months is an indication of how interdependent the world has become. Kenya, as an active player in the Global business arena, cannot escape entirely from its ripple effects. We rely heavily on major world economies for our exports, remittances from our people living in the Diaspora and tourism. For investors who borrow offshore, raising finances for capital projects will become increasingly difficult and expensive. We can only shield our economy by becoming more competitive. As trade barriers continue to reduce and trading blocs expand, I urge investors to take advantage of the emerging opportunities in order to reap the benefits.

Finally, I once again wish to commend the board, management and staff of Sameer Group for this investment that moves our country another level higher as an ideal investment destination.

With these remarks, it is now my pleasure to formally inaugurate the construction of Sameer Business Park.

Thank You and God Bless You All.