- Region: Africa
- Manufacturing and Services
- Others
June 17, 2005
- Japan Bank for International Cooperation (JBIC; Governor: Kyosuke Shinozawa) and the United Nations Conference on Trade and Development (UNCTAD) handed over today a Blue Book on Best Practices for Investment Promotion and Facilitation, prepared for the Government of Kenya and the Government of Tanzania to improve the country's investment climate, to President Mwaki Kibaki of Kenya and Samuel J. Sitta, Executive Director of Tanzania Investment Centre respectively in Nairobi. JBIC has already handed over similar Blue Book for the Government of Uganda to President Yoweri Gakuta Museveni of Uganda in Kampala on June 15.
- The Blue Book was prepared jointly by JBIC and UNCTAD based on the Japanese government's policy initiative for assistance to Africa. Its objectives are to reduce poverty through economic growth in the three countries through encouraging direct investment by Japanese firms and to accelerate regional integration under the East African Community (EAC) Customs Union officially launched last January. The Blue Book proposes an effective and realistic action plan to achieve these objectives.
- In the Third Tokyo International Conference on African Development III (TICAD III), Prime Minster Koizumi unveiled Japan's policy initiative for assistance to Africa in support of the New Partnership for Africa's Development (NEPAD). It has "poverty reduction through economic growth" as one of the three pillars along with "human-centered development" and "consolidation of peace," and he referred to the use of overseas investment loans, which will be provided by JBIC, to promote trade with and investment from Japan. The promotion of investment between Asia and Africa was also mentioned as part of the action plan in the Declaration on New Asian-African Strategic Partnership issued at the Asian-African Summit in April.
- Following this policy initiative put forward by the Government of Japan, JBIC prepared individual action plans for these three countries jointly with UNCTAD which conducted studies on their investment climate. Each action plan proposed measures actionable over a short period of one year for improving the legal and institutional frameworks, developing the private sector and enhancing the capacity of investment promotion agencies. In addition, the common action plan for the three countries was also prepared to help advance regional integration in the EAC Customs Union, of which they are member countries. Implementing the action plan in the Blue Book is expected to encourage direct investment by Japanese firms.
(Attachments)
Blue Book : Uganda
Blue Book : Tanzania
Blue Book : Kenya