The Cabinet Secretary Ministry of Investment, Trade and Industry Salim Mvurya has today given a current update on the special economic zones in Kenya, which are intended to open up areas for Key investments.
The CS was accompanied by Investments Principal Secretary Abubakar Hassan, Board Chairman KPA, ChairLapset , CEO and Chairperson Special Economic Zones (SEZ).
The CS met the various stakeholders today to review the progress of Dongo kundu Project, Special economic zones in the country. He observed that Progress was made in Dongo Kundu and investment was done on several sectors including; energy, pharmaceutical, and Glass and Local Investors are 60 percent while International investors make 40 percent .
Speaking during a visit in Naivasha Last week, Mvurya highlighted that investors who had failed to set up operations within one year of receiving their licenses will face revocation of those licenses. He further directed the Special Economic Zones Authority to enforce this mandate, stressing that investors must report to their designated sites within six months or risk losing their licenses. “We are giving every investor six
months to report to the ground, and if they don’t, we will move on to the
next person,” said CS Mvurya.
19 companies have expressed interest in setting up operations at the Naivasha
SEZ, with 11 of them already cleared and awarded licenses. The CS attributed
this progress to the government’s continuous efforts to ease the process of doing business, urging investors to take full advantage of the incentives available.
“KPA has 1.4 billion for compensation of affected persons. The process will begin this week, 400,000 acres marked to begin compensation. 1648 affected persons will be compensated.” Said Salim Mvurya Cabinet Secretary Ministry of Investment,Trade and Industry.
Cabinet Secretary Mvurya also observed that they will have a meeting with the leaders in the region to discuss the Dongo Kundu project.
He further noted that areas for economic zones will be gazetted and also have investors who are already being screened. Correct documentation will be prepared in order to gazette them.
The CS also noted that, there are 19 investors in Naivasha, and 3 more will come later.
Investors have been issued with licence, and SEZ will make a reviewed list of the investors and also want to work with the county Governments to make sure the infrastructure is interlinked. This will make it easy for the infrastructure to meet the standards required.
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