UAE investors shop for deals

A trade delegation that includes representatives of more than 20 companies from the United Arab Emirates (UAE) has pitched tent in Kenya in search of investment and trade deals in the manufacturing and industrial sector.

The Emirati investors, who arrived in the country on Saturday, said their mission will come to a close on November 27.

The delegation is headed by the chairman Sharjah Chamber of Commerce and Industry (SCCI), Abdullah Sultan Al Owais. The forum was organised by SCCI and the Kenya National Chamber of Commerce and Industry (KNCCI), as well as various companies in the manufacturing sector.

“The delegation is composed of about 20 top companies from the United Arab Emirates. They will be in Kenya for about three days. Their mission started on November 25,” said SCCI deputy director general Abdelaziz Mohamed Shattaf in an interview with the Business Daily on Monday.

Mr Shattaf said that during their stay in Kenya, the delegation is eying deals that will promote trade between the two countries.

Representatives of the UAE-based firms are also expected to meet local investors in the country before their visit comes to an end Wednesday.

SCCI’s visit to the region is aimed at marketing Sharjah, the third largest and third most populous city in the UAE, as an attractive investment as well as showcase its economic benefits and facilities offered to foreign investors.

Some of the UAE companies participating in the forum include Alpha International Household Industries, EMAAR International, Faan Al Ibdaa Perfumes and Cosmetics and Etihad Credit Insurance.

The lobby, however, remained tight lipped on the amount the firms have set aside to pump into Kenya.

The trade delegation however said that it has signed a memorandum of understanding with KNCCI to set up a trade command base at the UAE.

The office will assist Small and Medium Enterprises (SMEs) enter into trade partnerships with companies in the Middle East country.

The UAE trade mission will thereafter head to Uganda upon conclusion of its mission in Kenya where the Emirati investors will hold bilateral meetings with their Ugandan counterparts.