Kenya to use Singapore as gateway to Asian market

By Peter Ochieng

President William Ruto's administration is considering using Singapore as gateway to the Asian market.

The Head of State says he is aware of Singapore's strategic location in South East Asia, which must be explored to market Kanya's products in the region of 10 countries and a population of up to 670 million people.

He said the move is guided by the government's commitment to expanding lucrative markets for its agricultural produce.

Ruto, speaking on Thursday during a joint media address with Singapore Prime Minister Lee Hsien Loong at State House, Nairobi invited the country's private sector to invest in Kenya’s under-exploited transport and logistics sectors.

“This will check the low trade volumes and scale up our investments, thereby reducing the current trade deficit with Singapore."

The leaders initially held bilateral talks and witnessed the signing of MoUs on ICT, climate change and skills development.

Prime Minister Loong noted that the signing of a climate change pact will build a collective action to deal with the 'greatest existential threat to mankind.,

“Our ties have been growing. We will further this by pursuing more economic opportunities that will stimulate our shared prosperity,” he added.

At the same time, President Ruto insisted that there is no stopping the 3% housing levy, likening it to a train which has left the station.

The levy is contained in the 2023 Finance Bill, which is yet to be passed by Parliament.

Various players among them the opposition and Federation of Kenya Employers (FKE) have opposed the levy, insisting that it will lead to further high cost of living in the country.