The Principal Secretary for Trade Dr. Chris Kiptoo wants international investors to set up economic zones in Kenya owing to the country’s favourable trade policies and advanced infrastructure in the region.
He said Kenya was well positioned at the gateway and regional commercial hub where investors could access markets in the East African Community, COMESA and Africa at large.
Dr. Kiptoo made the remarks when he hosted a team of officials from the International Finance Corporation in his office.
He said the government had taken many bold steps to ease the cost of doing business in Kenya through a number of tax based incentives, mainly covering exemptions from duty and VAT on capital equipment and machinery to be used in the investment project, in addition to the introduction of one stop border post with integrated border management.
The PS cited the construction of the Standard gauge Railway and the low cost of energy as some of the available conditions which investors can take advantage of to spur their business.
He explained that the Port of Mombasa has seen great improvement in terms of efficiency especially after the commissioning of the new container terminal in Mombasa. “Transit time of goods from the port of Mombasa to the rest of East Africa has also reduced from 18 days to just six days” observed Dr. Kiptoo.
Meanwhile the State Department for Trade has given thumbs up for the retail internship programme fronted by Tuskys supermarket. Dr. Kiptoo said the State Department for Trade will work with the Technical, Vocational Education and Training Institutions (TIVET) to acknowledge and formalize the programme to enable graduands progress to the levels of diploma and above. The PS spoke when he launched the 3rd Tuskys retail traders internship programme in Kisumu