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{
    "id": 303860,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/303860/?format=api",
    "text_counter": 422,
    "type": "other",
    "speaker_name": "",
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    "speaker": null,
    "content": "Investors who have come up in a group have the resources that they can invest in socio services like education and in various industries within their country or region. However, they need the legal framework to help them to channel these resources to this country. Currently, we have seen Kshs3 billion being transmitted through the diaspora remittances to Kenya. These are resources which, if properly handled and channeled, will create a tremendous difference in the way we develop our nation. Mr. Temporary Deputy Speaker, Sir, something has been said about the Konza City. If we are going to be a successful nation, if we are going to emulate the tiger nations, one of the things that we must invest in massively is infrastructure in health, education and water. In education you are in a position to create a powerful human vehicle that will drive the economy of this nation to the levels of GDP that we have set for ourselves. Therefore, human capital development becomes a function of states but does not preclude the private sector in the environment of human capital development. Already we are seeing an example like in our universities today where you have both the public universities and Government universities. There is very healthy competition going on and you will see that at the end of the day the quality of programmes, the quality of the curricula that will be developed will create such high skills and technology that is necessary and important to be able to energize the growth of our population. Even when you bring in private partners within the domain of the public operations, you need the human capital expertise to be able to move the agenda forward. Therefore, human capital development is a key factor where again the Government can put in seed money and invite the private sector to participate fully so that they can create ample human capital. For instance the Konza City is one example where this nation is way ahead. In fact some of the innovations that have been carried out are by Kenyans themselves. The M-PESA is a modern way of transfering money from point A to B. When you talk about this to the rest of the world they get mesmerized; they wonder how simple, basic Kenyans are able to develop a technology with an effective banking system that has beaten all the international banking systems. So, the message here really is that we can be able to create an indigenous innovative technology that will help us to be cost effective and to be able to deliver the goods and services that are required by this nation to their own citizens and, of course, in doing business with the rest of the world. In the practice where I am at the moment, the kind of diplomacy we used to engage in - political diplomacy - has now drastically changed into economic diplomacy. It is about investments, trade, engagement and what you can do for your country. Therefore, it is a completely new arena altogether. If we do not have rules and regulations governing these investments it will be extremely difficult for this nation to move forward. Certainly, it requires heavy capital outlay, massive investment, injection of capital and resources to be able to develop our minerals and agri-businesses. In Brazil for instance, we went there recently for the Rio Plus 20. When we met the investment groups in one of the dinners that we gave, it was quite clear to us that there were multi-billionaires. One company alone was in terms of billions of Kenya shillings. Out of agri-business industry investments, they have done extremely well. I believe given the nature of this nation; the new Constitution, the new institutional framework that we are now creating, one such institution we are creating of public"
}