DUBLIN, May 29, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/7gs687/african) has announced the addition of the "African Infrastructure Tracker: Kenya" report to their offering.
Significant infrastructure development is evident in Kenya, with a strong government commitment to economic transformation through infrastructure. Multiple sectors will benefit from the development of road and rail infrastructure in Kenya. Kenya is set to become the fastest growing East African country and will become a hub for regional trade. The level of development in the country is evident in all urban areas, and the commitment of the Government of Kenya will secure significant foreign direct investment into the country in the next 5 years.
Kenya is ideally placed in East Africa as the hub for trade and business interests, with sufficient infrastructure development driving intra-regional trade in Africa. Significant efforts are underway to upgrade and develop new infrastructure in Kenya to increase its ability to facilitate trade. Major industry sectors that expect to benefit from the planned infrastructure developments will be oil and gas (O&G), mining, agriculture, and retail.
The country has been plagued with high transport costs for many years because of insufficient, overused, and rundown infrastructure. Significant improvements have already been made to facilitate more efficient trade. Despite efforts to improve infrastructure, however, there are major impediments that still exist in terms of administrative delays and instances of corruption along these routes. Average transit times have been improving, and a concerted effort has been made on the part of the government to eradicate these issues.
For Kenya to become the leading trade hub for East Africa, new infrastructure will be required. A key transport infrastructure project that is underway is the Lamu-South Sudan-Ethiopia Transport (LAPPSET) corridor. This project will comprise a new port facility at Lamu, a railway line, highway, oil pipeline, and a fibre optic line.
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