Competitive Marketing Strategies Adopted By Kenya Investment Authority To Attract Foreign Direct Investment (FDI) In Kenya
This study sought to determine the competitive marketing strategies adopted by Kenya Investment Authority to attract foreign direct investment (FDI) in Kenya and to establish the challenges that KenInvest experiences in attracting foreign direct investment (FDI) in Kenya. The case study design was chosen due to its ability to provide in-depth analysis of the case to be studied. Data was collected by me using an interview guide and qualitative analysis was done using content analysis. The interviewees were the senior management of the organization due to their immense knowledge in the field of the competitive marketing strategies adopted by KenInvet in attracting Foreign Direct Investments in Kenya. The study revealed that the Kenyan Government had contributed towards creating more in FDI through signing bilateral trade agreements that facilitate smooth trade and investment processes between countries. The government had enabled expansion of markets through membership of EAC and COMESA where investors would have access to a 600 Million people market. The study further revealed that the Government had improved regulations by abolishing import licensing requirements and provided good infrastructure such as the ports in Mombasa and Airports which have led to easy access of markets thus increasing investments. The study found that most of the investors were attracted to Kenya because of the economic environment i.e. macroeconomic drivers, good business environment such as ease in getting work permits, licenses, ease in doing business and low living costs. As a matter of working towards increased FDI into the country, Kenya Investment Authority has adopted a way of ensuring that FDIs build a linkage with the rest of the economy by reviewing the profit repatriation incentive so that FDI investors re-invest profits in Kenya by giving them guarantees against imports for creating long-term export capacity). This would ensure that both Kenya and investors enjoy a fair return of FDI inflows. Kenya Investment Authority had come up with competitive strategies e.g. packaging of the Vision 2030 projects that helps the Authority to provide the investors with the maximum information to enable them reach an investment decision. Further, the marketing division of the Authority had been restructured into focused regions of the world as this helped the marketers to specialize in a specific region thus getting as much information on the region as possible. In addition, the Authority had adopted the Distribution, positioning, Audience targeting and product Strategies that have helped in repositioning the country as the most preferred investment destination.