The role of economic diplomacy in promoting foreign direct investment in Africa: case study of Kenya.
Abstract
This study focused on the role of economic diplomacy in promoting foreign direct
investment using Kenya as the case study. It examines the relationship between
economic diplomacy and foreign direct investment, Kenya’s economic diplomatic
strategies for promoting FDI as well as prospects for promoting FDI as a key
component of economic development. The study employed both qualitative and
quantitative research design in data collection and this helped in getting relevant
information for the study. The study observed that economic diplomacy is an essential
mechanism that should be promoted to attract investors in the economy. Economic
diplomacy ensures that nation states cooperate with one another thereby creating room
for investment flow from one region to the other. The study also observed that economic
diplomacy also experiences challenges that affects its effectiveness like conflicting
interest among the actors. Foreign direct investments were also observed to experience
challenges that are linked to unfavorable political environment, heavy conditions and
licensing costs that makes investors to shy away. This study demonstrates that Kenya
is involved in numerous bilateral and multilateral negotiations in the international
system to attract foreign investors as this promotes its economic growth and
development.
Publisher
University of Nairobi
Rights
Attribution-NonCommercial-NoDerivs 3.0 United StatesUsage Rights
http://creativecommons.org/licenses/by-nc-nd/3.0/us/Collections
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