The UN Conference on Trade and Development (Unctad) meeting in Nairobi is expected to raise Sh1.4 trillion ($14 billion) in fund mobilization in its World Investment Forum by the end of the week.
“The last World Investment Forum which lasted three days, unlike this one which goes for four days, ended with transactions and deals worth $14 billion. There’s no reason we shouldn’t,” Unctad Secretary-General Dr. Mukhisa Kituyi said.
The World Investment Forum, brings together fund managers, investors, individuals looking for partnerships, mergers and acquisitions and to start new enterprises.
And Kenya’s President Uhuru Kenyatta has expressed his hope that Kenyans will take the opportunity to improve tourism and business in the country.
The conference attended by more than 10,000 delegates has 10 side conferences with the World Investment Forum being one of them.
Kenya is represented by 4,600 delegates and is among the developing countries hopeful that negotiations will protect their economies, increase investments and save them from debt distress.
Deliberations for the Unctad meeting will centre on key economic issues, including the fall in commodity prices, globalization, economic partnerships and sustainable development.
The week-long meeting which started on July 17, 2016 brings together heads of state and government, ministers and other prominent representatives of business, civil society and academia to tackle global trade and economic development issues.
This is the second time the Conference is being held in Nairobi.