Mr. John Mwendwa, CEO of the Kenya Investments Authority, remarked that an improved business environment is attracting more investors, which generates new job opportunities. Significant investments are being made in special economic zones such as Tatu City, further supported by government initiatives to bolster economic growth.
The chief executive officer of the Kenya Investments Authority, Mr. John Mwendwa, highlighted that the ease of conducting business in Kenya continues to draw investors, thus generating economic opportunities for its citizens. He noted that numerous investors are establishing substantial investments in Special Economic Zones and Export Processing Zones, which in turn create job opportunities.
During the inauguration of The Link Warehousing and Logistics Park situated in Tatu City, Ruiru, Kiambu County, Mr. Mwendwa addressed the trend of some companies relocating due to heightened competition. He conveyed that this does not severely hinder overall business growth since many other firms are still pursuing multi-billion investments within the country.
Mr. Mwendwa stated, “The government is committed to providing a conducive business environment as well as reducing the cost of doing business in the country in order to attract more investors.” Additionally, Dr. Kenneth Chelule, Chief Executive of the Special Economic Zones Authority (SEZA), affirmed that there exists significant potential for exploitation, particularly in medium and small enterprises.
Dr. Chelule reported that over the last three years, more than 40 special economic zones have been established in Kenya, accommodating over 90 licensed business enterprises that are now operational. He referenced the new Logistic Park in Tatu City, where over ten new companies are poised to enter the market, bringing the total investments in that zone to over 100.
He noted, “This investment in Tatu comes at the back of Dongu Kondu in Mombasa and in Naivasha zones, where the signing of lease deals worth billions of dollars is expected to be rolled out in the next 60 days.” This demonstrates the viability for local businesses to invest in special economic zones.
Mr. Preston Mendenhall, the Chief Operating Officer at Rendezvous, which operates Tatu City, indicated that the number of companies established at the industrial park has now reached 100 and continues to grow. He revealed that in the past five years, they have created over 25,000 jobs across various sectors, including highly skilled positions as well as roles in manufacturing, warehousing, and distribution.
In summary, the conducive business environment in Kenya is attracting both local and foreign investors, leading to the establishment of special economic zones that generate job opportunities. The commitment of government officials to enhance the business landscape is evident in the proactive steps taken to mitigate costs and support enterprises. Continued investments in zones like Tatu City signify a robust economic potential for the nation.
Original Source: www.kenyanews.go.ke
