President Willian Ruto has outlined key government policies and laws to woo and protect more investors in Kenya’s special economic zones.
The president pointed out that the Special Economic Zones Act of 2015, the Finance Act of 2023, as well as the Business Laws Amendment of 2024, give protection to investors in these economic zones.
Speaking during a panel discussion after the groundbreaking ceremony at the Vipingo Special Economic Zone in Kilifi County on Tuesday, President Ruto announced that the law on tax incentives is guaranteed for 10 years.
At the same time, President Ruto said Kenya is unlocking its full potential as Africa’s industrial powerhouse.
“We are investing in special economic zones as engines of growth to fast-track industrialisation, attract global investors, and create wealth for our people,” he said.
President Ruto said predictable policies, competitive incentives, and modern infrastructure make Kenya Africa’s premier export hub.
Ruto added that the government is standing tall in positioning Kenya not only as Africa’s premier investment destination, but also as a global hub of choice.
ALSO READ:
Trypanosomiasis Research and Control conference kicks off in Nairobi
“As Kenya and Africa, we must cast aside the smallness of vision. We must raise our ambition to rival the very best in the world within our lifetime,” he said.
The forum brought together investors, policymakers, financial institutions, and industry leaders with a shared mission of unlocking opportunities through special economic zones.
They all agreed that these special vehicles of manufacturing and production are the central engines for driving Kenya and Africa’s industrialisation and investment agenda.
With 38 special economic zones, 111 export processing zones, abundant green energy, a dynamic young workforce, and rich natural resources for value addition, Kenya stands as the gateway to Africa’s 1.4 billion-strong Africa Continental Free Trade Area market.
The Vipingo Special Economic Zone is a transformative 2,000-acre project set to attract Ksh.390 billion worth of investments.
This project will also generate more than 35,000 direct jobs, thousands of indirect jobs, and spark thousands more economic opportunities across industries.
Get more stories from our website: Sacco Review.
For comments and clarifications, write to: Saccoreview@
Kindly follow us via our social media pages on Facebook: Sacco Review Newspaper for timely updates
Stay ahead of the pack! Grab the latest Sacco Review newspaper!
erate more than 35,000 direct jobs, thousands of indirect jobs, and spark thousands more economic opportunities across industries.
By Juma Ndigo
