Somalia will widen Regional markets and boost security of investments

[SOO MAAL]

NAIROBI, Feb. 14 (HAN Monitoring) -- The Kenyan President Kibaki has assured the country's manufacturers that the return of peace and stability in Sudan and Somalia will widen their regional markets and boost security of investments.

 

Speaking in Nairobi on Friday, Kibaki called on the industrialists to take advantage of the emerging markets whose potentials were unlocked by the recent peace accord signed in Kenya to end the 21-year-old civil war that ravaged the vast region of southern Sudan, and successful completion of the Somali reconciliation process.

 

"We have relentlessly pursued peace for Somalia and Sudan. As result of these efforts, we can look forward to reaping a peace dividend," he told a gathering of industrialists in Nairobi.

 

"A peaceful and stable Somalia will enhance our own security by halting the flow of small arms into Kenya. Moreover, the creation of stability in our region will open up a larger market for our goods and services," the Kenyan leader said.

 

The president further pointed out that the establishment of the East African Customs Union has opened up more marketing opportunities for businesses and urged the business community to aggressively pursue the existing opportunities.

 

He said the east African nation is happy with the upward trend in the performance of most sectors of the economy, expressing optimism that the performance will even be better this year due tothe prospects of improved rainfall and falling oil prices.

 

"Erratic weather conditions and high oil prices significantly reduced our economic performance last year, despite the impressed performance we achieved. However, improved revenue collection has made it possible to accommodate most of our budgetary commitments," he noted.

 

He observed that the private sector is faster in responding to and taking advantage of available opportunities, saying that is why the government values its partnership with members of the business community.

 

Kibaki said the reforms being implemented in the public sector are intended to ensure that public enterprises operate under similar principles to those of the private sector.

 

He called on the private sector to work closely with the government to make Nairobi cleaner, safer and the most competitive city in the region where services to the residents are provided in an efficient manner.