Kenya-Singapore Bilateral Investment Treaty takes effect

The treaty was signed in 2018.

The Bilateral Investment Treaty (BIT) between Singapore and Kenya to drive greater investment flows in the two countries has entered into force, the Ministry of Trade and Industry said in a statement.

The BIT signed in 2018 will protect the interest of Singaporeans and Kenyan investors, boosting the confidence of the investors in the two countries to take up investment opportunities.

“The entry into force of the Kenya-Singapore Bilateral Investment Treaty is an important milestone that will further boost trade and investment flows between our countries,” said Minister Gan Kim Yong. 

“It will offer greater protection for Singapore investors venturing into the Kenyan market, and vice versa, safeguarding investments and boosting investors’ confidence,” he added.

Under the BIT, investors from both countries are guaranteed fair and equitable treatment and full protection and security based on customary international law, non-discriminatory treatment compared to other foreign investments, and protection from illegal, expropriation.

They are also protected from non-discriminatory compensation for losses arising from war, armed conflict, and civil strife, freedom to transfer capital and returns in and out of the country, and access to international arbitration for investment disputes.

Kenya, the largest economy in the East Africa Community and with one of the largest maritime ports in Sub-Saharan Africa (SSA), was Singapore’s 9th largest trading partner in SSA in 2022.