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{
    "id": 573973,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/573973/?format=api",
    "text_counter": 102,
    "type": "speech",
    "speaker_name": "Hon. Korir",
    "speaker_title": "",
    "speaker": {
        "id": 1356,
        "legal_name": "Wesley Kipchumba Korir",
        "slug": "wesley-kipchumba-korir"
    },
    "content": "My next concern is about foreign companies in this country. This Bill has come at the right time when we have had the Global Entrepreneurship Summit (GES) in this country. The USA President, Barack Obama came and talked a lot about exposing Kenya to the rest of the world. We have a lot of people who want to come to this country. We also need to be very keen and make sure that as our economy grows, the people on the ground also grow. We need to protect our local companies from the influence and influx of foreign companies. If you look at what is happening right now in the country especially in the construction industry, you will find that there are many construction projects that are being undertaken by Chinese companies. We have to find a way of protecting our local companies. When I look at the way this Bill has been written especially on the procedure of registration of foreign companies, I only see that the requirements that we have here that can benefit our people in foreign companies is the requirement of having one appointed representative of the company. It does not tell us whether the appointed member is a shareholder of the company or he or she is just a person that has been appointed from the streets to be a representative of the company. What we will see are companies from foreign countries."
}