http://www.english.hadhramaut.info Kenya urges Arabs to exploit investment opportunities [The Source: http://www.coastweek.com - 11/12/2009] The Kenyan government on Wednesday called on Arab businessmen to massively invest in the country, saying the east African nation offers great opportunity for investment by Arab partners. Finance Minister Uhuru Kenyatta said Kenya remains an attractive investment destination, which acts as the hub of economic activities for both the East African Community as well as the Great Lakes Regions.Kenyatta said Kenya is endowed with not only conducive environmental conditions but also enjoyed highly skilled and competitive labour-force, which can sustain any forms of investments.  “To achieve our growth targets, we expect the private sector to play a critical role. This therefore, offers great opportunity for investment by our Arab Partners. I take this opportunity to invite you to invest in our country,” he told the Third Forum of Arab and African Consulting Firms (BADEA) in Nairobi .The minister said hosting the forum which also brought representatives from the Organization of Petroleum Exporting Countries (OPEC) and Saudi Fund who are Kenya ’s main co-financiers explained the cordial relationship that exists between Kenya and BADEA.Kenyatta whose speech was read by Economic Secretary Geoffrey Mwau thanked BADEA for its support it has extended to agriculture, roads, health and water/irrigation, saying the support has contributed to the improvement of the standard of living of Kenyans.The two-day forum is focusing on strengthening and promoting cooperation between African and Arab Consultants in order to increase the market share and participation of Arab-Arab Consultants in the global market of consulting services.Speaking at the forum, the Arab Bank for Economic Development (Badea) Director-General Abdulaziz Khelef called for increased private public partnership and pledged to increase funding for agriculture and infrastructure projects in Africa .  “We hope that BADEA shall be an institutional framework to foster cooperation between Africa and African consultants on the one hand, and a new tool and modality for activity Afro-Arab cooperation to better service the interest of the people of the two regions on the other hand,” he said.Khelef said BADEA was set up by Arab League countries to give grants and soft loans to development projects in Africa which has been hit by poverty due to high energy costs and the global financial crisis.He said the projects would help governments in Africa prevent future food price crises and droughts. He said BADEA would help Africa in funding infrastructure projects such as new roads to boost trade between regions and neighboring countries.Kenyatta said Kenya had set its long-term plan to consolidate the economic and social gains to accelerate economic growth to at least 10 percent on a sustainable basis by 2012.The minister said Kenya was keen on partnering with Arabs to improve the living standards of the two countries citizens.  He noted that key sectors of collaboration between the countries include agriculture, infrastructure, manufacturing—largely agro-based, wholesale and retail trade, business process outsourcing ( BPO ) and financial services.  “We are convinced with the pursuit of good macro-economic policies and structural reforms, and on the assumption that there will not be major new challenges in the external environment, we should be able by 2012 to reach a growth rate closer to the target of 10 percent as set out in our five years Medium-term plan (2008- 2012).”Kenyatta said public investment which is currently around four percent of gross domestic product is expected to slightly more than double to around 9.8 percent by 2012/13, largely to cater for the planned substantial expansion of infrastructure development. “The government is paying particular attention to the promotion of the sectors which as a country we consider will spur highest growth,” he said.