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{
    "id": 1570425,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1570425/?format=api",
    "text_counter": 316,
    "type": "speech",
    "speaker_name": "Sen. Osotsi",
    "speaker_title": "",
    "speaker": null,
    "content": "Madam Temporary Speaker, the amendment to the Investment Promotion Act also provides for issuance of investment certificate, as well as setting out conditions for determining whether any investment or related activity are beneficial to Kenya. It is important that investors who come to this country must be given an investment certificate after the Government has certified that whatever they are going to do will not contravene the law or have an adverse effect on our economy or Kenyans; it has to be beneficial. This will provide a system of determining that. We saw the case of Worldcoin (WLD) investors who came to this country and started taking biodata of Kenyans. That would not have happened if they went through the process of certification. So, this is an important amendment. The amendment to this Investment Promotion Act also requires that we have an Investment Promotion Authority to provide Government services at a centralized facility. This is also crucial for investors because they will have a centralized place where they can go to seek services, therefore, further avoiding all the troubles that foreign investors face."
}