Tatu City in collaboration with development partners have launched the Association of Special Economic Zones (AZES) with the objective of increasing employment opportunities in the country especially among the youth and ‘Gen-Z’.
Speaking at the event, Principal Secretary (PS) for Investment Hassan Abubakar pointed out that Kenya is known to be number 1 in producing the best human capital in Africa.
Abubakar disclosed that ASEZ endeavors to curb unemployment, foster development and boost investment in the country.
He added that this is an investment attraction tool for private investments of domestic and foreign parties.
The PS said the Ministry has made reforms in the SEZ such as removal of taxes for local integrations and elimination of withholding taxes for investors who have been financed through foreign money.
‘The ASEZ vision is to build world-class special zones that drive economic transformation, investment and industrial excellence,’ stated Abubakar.
Further, he stressed that ASEZ aims to empow
er SEZs such as Tatu City, through advocacy, strategic partnerships, capacity building and promoting innovation, sustainability and economic growth.
However, the PS acknowledged that the Association faces certain challenges and therefore the need for government’s intervention.
The Founding Chairman of the DL Group of Companies Dr David Langat emphasised that the Government should address issues on infrastructure as this is one of the challenges ASEZ is facing in the country.
Langat called upon the government to help in areas of concern in order to create a conducive environment for investors to thrive as this will encourage development in the country.
‘There are 38 Special Economic Zones in Kenya, 12 of which are eligible for operation,’ revealed Langat.
This, according to the Chairman, has encouraged the creation of good business environment despite scarcity in resources for investors.
‘There are numerous benefits arising from the ASEZ and Kenyans are being called to sharpen their skills so as to not m
iss out on the employment opportunities from this,’ he observed.
Source: Kenya News Agency