Cabinet Secretary for Mining, Blue Economy, and Maritime Affairs, Salim Mvurya has assured international investors of Kenya's readiness to capitalise on opportunities in the blue economy sector.
Mvurya said Kenya has implemented favourable legislation and developed essential infrastructure to facilitate and regulate investments in the blue economy.
"We have been able to synchronise our laws and regulations to create an enabling environment for both local and international investors,” he said.
The CS said Kenya has been working with partners to create an enabling environment in the Indian Ocean and inland waters to profile critical investment areas on blue economy and fisheries.
The government has very progressive and reliable research institutes such as Kenya Marine and Fisheries Research Institute that provide crucial data and technology to propel the blue economy, he added.
Mvurya spoke during the official launch of the second Blue Invest Africa 2024 Conference at the Diani Reef Hotel in Kwale county.
The event brought together investors and entrepreneurs from Africa and other European continents.
The CS said the conference comes at an appropriate time, given the government's commitment to nurture numerous opportunities in the blue economy sector.
He added that the conference comes at a critical time for the government, as it prepares to implement the economic partnership agreement with the European Union.
Mvurya said Kenya and the EU have already agreed on several areas that will be critical to profile investments.
The CS said the EU has been excellent partners in Kenya, whose assistance has helped give the blue economy a new face not only in the country but also in Africa.
EU's partnership has helped Kenya attract investments and grow the blue economy sector, he said.
"We have walked this journey together because the blue economy is not a new concept but it was not well attended and the partnership with the EU has spiced up our commitment to invest in the sector," he said.
Mvurya said the partnership will increase capacity building for young women and men so that they have the necessary skills to fully exploit the sector.
"We have identified Bandari Maritime Academy and its associate institutions, the Technical University of Mombasa which is supposed to be initiating courses in Marine to train more experts in the blue economy through EU support," he said.
The CS announced that they have reached an agreement with the EU to strengthen their partnership in the Indian Ocean's Marine Spatial Plan and the Lake Region Spatial Plan in Lake Victoria to ensure proper investment in the blue economy.
Mvurya said the government is also considering transitioning from onshore fishing to mariculture in the Indian Ocean and aquaculture in inland waters, adding that both concepts have received a commitment from the EU and other partners.
He said President William Ruto has been at the forefront of promoting the blue economy and that Maritime and Shipping are key agenda items for Kenya.
EU ambassador Henriette Geiger said the conference provides an opportunity for stakeholders to learn about innovation and technology to spearhead the processing of marine resources to foster blue economy investment.
She said sharing experiences on the sector will have an impact on decision makers and other entrepreneurs to ensure the sector's sustainability.
Geiger said as stakeholders engage on issues of aquaculture, coastal tourism, fisheries and plastic transformation, they must take into consideration biodiversity loss and climate change.
"By doing business, we also have to do what is good for our world," she said.
EU Director General Maritime Affairs and Fisheries Charlina Vitcheva said blue economy has a great potential for growth and investment.
She said the sector is a driver for socioeconomic development and livelihoods.
Vitcheva added that the ocean is a treasure and offers various job opportunities such as cruise tourism and fishing.
She said the ocean also offers a wide investment in the field of renewable energy, food products and medicine.
Kwale Governor Fatuma Achani said the county presents several opportunities within the blue economy due to its proximity to the Indian Ocean and rich marine resources.
She said some of the potential opportunities include; marine fisheries, aquaculture, coastal tourism, marine renewable energy, marine biotechnology and waste management.
Achani said the Shimoni Port stands ready to benefit immensely from a public-private partnership, driving growth in the blue economy through sustainable marine resource management.
She said the county is actively seeking investment to add value to seaweed farming, a promising sector ripe for innovation and expansion.
Achani said efforts to initiate direct flights from Nairobi to Diani are set to boost tourism, showcasing the stunning coastal beaches, vibrant hospitality sector and rich wildlife reserve
She said the completion of the Dongo Kundu Bypass enhances access to Kwale county, creating new business opportunities and fostering economic growth.
Achani urged the investors and entrepreneurs to take advantage of the conference to forge partnerships, invest in innovation, and pave the way for a prosperous and sustainable future.
