The Special Economic Zone (SEZ) in Busia County will be complete by the end of October, Investment Promotion Principal Secretary Abubakar Hassan has announced.
Speaking after an inspection visit to the SEZ, the PS said the contractor had assured him that work on the project was going on as planned.
“The progress is going on well and the contractor has assured us that by October it will be complete. Hopefully, by the end of the year, President William Ruto will officially open it,” Hassan added.
He said the SEZ in Busia will go a long way in creating job opportunities for the youth in the region.
The government is in the process of establishing five special economic zones in Sagana, Thika, Nakuru, Eldoret and Busia.
A SEZ is a designated and declared area, gazetted for the purpose of undertaking economic activities while enjoying special regulations that differ from general trade, tax and investment rules.
Hassan said the SEZs will change the lives of the people where they are located and Kenya at large.
He said Governor Paul Otuoma suggested that the SEZ in Busia should focus on edible oil and cassava processing and assembly of electric motorcycles.
“We will advertise the zone before the year ends so that we know who has interest. Hopefully, we will have one investor in place by the time we officially open the SEZ,” Hassan said.
On October 13, 2023, Ruto announced that the government is adding five more special economic zones in Kenya.
Speaking at EPZ Athi River, Ruto said the special economic zones will give a reason for more foreign investments to be established in Kenya.
The President stated that the government will provide incentives for investment in these special economic spaces.
SEZ can either be public or private. A public SEZ is a zone developed and managed by the government while a private SEZ is a zone developed by a private developer(s).
These zones are regulated by the Special Economic Zones Authority which issues three main SEZ licenses namely the Developer license, Operator license and the Enterprise license.
