NAIROBI, Oct. 29 (Xinhua) -- Kenya plans to leverage on its special economic zones (SEZ) in order to boost foreign direct investment (FDI) in the post-COVID-19 era, an official said on Thursday.
Francis Owino, principal secretary of the Ministry of Industry, Trade and Enterprise Development, told a virtual trade forum that a number of policy and legal reforms will be enacted in order to attract foreign capital inflows.
"The special economic zones offer incentives that will make foreign investors produce competitive products for domestic and overseas markets," Owino said.
According to the ministry of industry, nine SEZs have been gazetted throughout the country.
Owino noted that the zones will also help to process Kenya's abundant natural resources which are mostly exported in raw form.
He observed that value addition provides the country with an opportunity to create employment as well as reduce overdependence on imports of goods that can be made locally.
According to Owino, the country is an ideal investment destination because of its status as the regional commercial hub of east and central Africa.
Pius Rotich, general manager of the Kenya Investment Authority, said so far dozens of viable projects have been identified in the manufacturing, housing, health and agricultural sectors. Enditem
