President William Ruto, AmCham CEO Paul Muthaura and other officials during theAmerican Chamber of Commerce Business Summit in Nairobi, in September/ HANDOUT

KENYA needs to improve tax and regulatory predictability, prepare bankable projects and strengthen infrastructure to convert growing US investor interest into actual investments, according to a new trade report.

The recommendations in a status report released on Tuesday, following the recent American Chamber of Commerce (AmCham) Business Summit in Nairobi in September, places pressure on the country to improve the business environment.

The report argues that attracting American capital will require more than promoting Kenya as a regional gateway.

It calls for practical reforms, faster project execution and a joint mechanism to track investment commitments and resolve barriers that delay businesses.

A key proposal is the establishment of a US-Kenya Investment Implementation Taskforce to monitor commercial commitments, address obstacles and accelerate the transition from investment discussions to operational projects.

The report also recommends reforms to tax administration, including measures to stabilise tax policy and improve the timely processing of value-added tax refunds, which have remained a concern for businesses.

“Investors are also seeking predictable licensing and regulatory procedures, clear rules and reliable government decision-making before committing long-term capital,” the report by the American Chamber of Commerce-Kenyan chapter, states.

The recommendations come as Kenya seeks to deepen commercial ties with the United States following the AmCham Business Summit, which brought together government officials, investors and business executives to explore opportunities across seven sectors.

These are manufacturing, agriculture, healthcare, energy and infrastructure, digital economy, critical minerals and the creative economy.

The summit generated more than $600 million (about Sh77.7 billion) in investment pledges and commitments from US companies, highlighting the scale of potential capital available to Kenya.

Among them is Coca-Cola’s $175 million (Sh22.7 billion), an ongoing five-year investment plan announced in 2024.

Global confectioner— Mars Wrigley has also been investing heavily in Kenya with a $103 million (Sh13.3 billion) production-line investment, and Digital Realty’s additional $80 million (Sh10.4 billion) data-centre investment in Nairobi.

Oracle has also selected Kenya for its first public cloud region in Africa, in partnership with Africa Data Centres.

However, the report warns that investment announcements alone will not guarantee economic gains unless projects are implemented and supported by an environment in which businesses can operate profitably.

It calls for government agencies to move beyond marketing investment opportunities and strengthen project preparation through feasibility studies, technical due diligence, environmental and social assessments and clear financing structures.

Projects should also demonstrate market demand, reliable revenue streams and credible buyers through enforceable purchase agreements.

This is intended to address a key concern among investors where availability of capital does not automatically translate into financing, where projects lack commercial viability, predictable returns or clear risk-management arrangements.

The report further recommends expanding energy generation and reliable transmission infrastructure to support growing demand from data centres, artificial intelligence and other energy-intensive industries.

Kenya is also urged to position itself as a regional investment gateway by leveraging its ports, transport infrastructure, skilled workforce and membership in the East African Community, Common Market for Eastern and Southern Africa and African Continental Free Trade Area.

President William Ruto during the summit said: “Kenya wants businesses to produce here, innovate here, build your regional headquarters here, and serve Africa from here.”

The report however says that ambition will depend on the country's ability to translate its strategic location and market access into efficient cross-border trade, harmonised regulations and stronger regional value chains.

It also calls for structured public-private sector engagement to monitor reforms, identify regulatory bottlenecks and ensure investor concerns are addressed by the relevant institutions.

AmCham Kenya board president Angela Ng’ang’a challenged stakeholders to focus on accountability and implementation, arguing that the value of the summit should be measured by the commitments delivered rather than announcements made.

The report also highlights the extension of the African Growth and Opportunity Act (AGOA) through December 2028 as an opportunity for Kenyan manufacturers to increase production, diversify exports and strengthen access to the US market.

US Assistant Secretary of State for African Affairs Frank Garcia called for a commercial relationship built around mutual benefit, saying: “Trade over aid, opportunity over dependency, investment over assistance.”

The challenge for Kenya, experts say, will be to ensure that increased US investment translates into expanded local production, technology transfer, jobs and stronger participation in regional and global supply chains.