In a bid to accelerate industrial growth and align it with the country’s Gross Domestic Product (GDP), the government has introduced robust measures.
President William Ruto announced yesterday that Special Economic Zones (SEZs) are being equipped with essential facilities to attract investors and promote foreign direct investment.
Exports
President Ruto emphasized the significance of increasing exports, stating that the country imports numerous products that could be manufactured locally.
“Exports are a very important agenda because we are importing too many things that can be manufactured locally,” Ruto stated.
However ,positioning the country to benefit from the African Continental Free Trade Area and the African Growth and Opportunity Act-
the government aims to tap into wider markets.
Inaugurate SEZA in Naivasha
During his visit to Maai Mahiu in Nakuru County, President Ruto inaugurated the 90 MVA Naivasha Special Economic Zone Sub-Station.
This KSh700 million facility features three separate lines that complement each other, ensuring uninterrupted power supply.
Notably, the power station will utilize geothermal power, setting a precedent for the nation’s green industrialization.
To facilitate cost-effective operations, the government has reduced the cost of power in the Naivasha Special Economic Zone to KSh 5 per kilowatt hour.
“This is where the cheapest power will be found at KSh 5 per kilowatt hour,” he added.
This move aims to attract more businesses and encourage investment.
President Ruto issued licenses to six companies, collectively investing KSh 30 billion and creating over 3,000 job opportunities.
During his tour, the President also visited the completed Affordable Housing Programme in Bondeni, Nakuru.
However,Out of the 605 units, 360 have already been sold, offering low-income earners the opportunity to own their own homes and break free from a lifetime of renting.
Furthermore, President Ruto launched the Kiambiriria-Kuresoi-Chepsir Road,
a 40-kilometer stretch that will enhance accessibility to resources, opportunities, and services.
This development is expected to positively impact the region’s residents.
“We must get it right this time round. Through our plan and leadership, we will transform Kenya,”Ruto said.
