Today morning, the KNCCI leadership led by the Chamber President Mr. Richard Ngatia and Vice president Dr. Erick Ruto, hosted a delegation from the Saudi Arabia Port authority – Jeddah Islamic Port led by Eng. Majed Rafed Al-Argoubi and Red Sea Gateway Terminal led by Eng. Hamdi Nadhrah.
In his presentation, Eng. Majed described Jeddah Islamic Port as the primary gateway to the Holy Mosque in Mecca for Muslim pilgrims from around the world. The port today is the biggest gateway for Saudi Arabia’s imports and exports and the Red Sea’s top re-export point, with 75 percent of the country’s exports and inbound trans-shipment going through it.
The Jeddah Islamic Port is a logistics hub dealing with containers, general cargo, solid bulk, liquid bulk, livestock, passengers and log point.
In 2019 Jeddah Islamic Port, won the 10th “Makkah Award for Excellence’’ for economic excellence, in recognition of Saudi Customs’ implemented programs and initiatives which contributed to the optimization of customs clearance procedures. The 2-hour clearance program was one of the most significant achievements, which created a qualitative leap by reducing the duration of the customs clearance from 8 days to less than 48 hours, and less than 24 hours for pre-arrival electronic submission of shipments.
The Chamber President took the delegation through the various investment opportunities in Kenya with a growing and diversified economy that is supported by a general investment climate; broader economic reforms, technology development, infrastructure improvements, exciting consumer market, qualified and cost-effective workforce, strategic Geographical location, wide market access, well-established private sector, vibrant capital market. Kenya is well suited as a distribution base to service Africa, Europe, the Middle East, and South Asia. Kenya serves as the Communications & Logistics hub of the region with access to regional transport corridors.
Additionally, he noted that it is safe to invest in Kenya, no foreign exchange control, allowing for full repatriation of profits, capital or interests. Foreign Investments Protection Act (FIPA)- FIPA guarantees against expropriation of investment by the government ensuring investments by foreigners is protected.
The Chamber 1st Vice President Dr. Erick Rutto in his remarks stated that in order to bridge the trade balance between the two countries it would be ideal to increase the export of live animals especially during Hajj with Kenya being a Disease-Free Zone.
KNCCI Director Mr. Kariuki Theuri emphasized on the need for the Saudi Food and Drug Authority and Kenya Food and Drug Authority to agree on the required certification in order to make the process seamless for businesses in both countries.
Red Sea Gateway Terminal (RSGT) is the newest flagship container terminal at Jeddah Islamic Port, a world-class terminal spearheaded by the Saudi Industrial Services group SISCO. Located at the Port of Jeddah, the Red Sea Gateway Terminal was established in 2009 as Saudi Arabia’s first private sector Build-Operate-Transfer project. Currently, with an annual container throughput capacity of 5.2 million TEUs, RSGT is providing world-class integrated logistics solutions, port operations in one of the world’s 40 busiest container ports and serves as an engine of growth for both local and regional economies.
The Chief Operating Officer Mr. Patrick Nyangweso concluded the meeting my giving the delegates the assurance of KNCCI’s support to boost the exports to Saudi Arabia and bridging the economic gap between the two countries.
The meeting was also attended by KNCCI directors Mr. Stanley Baskwony, Mr. Paul Muchiri and Mr. Karanja as well as representatives from the State department of Trade and Middle East Desk, Economic & commercial diplomacy directorate -Ministry of Foreign Affairs.
Content created and supplied by: OumaAllan (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More