Kenya has urged investors from the UK to set up businesses in Special Economic Zones (SEZs) spread across the country.
Ministry of Industrialisation Trade and Investment Cabinet Secretary Salim Mvurya said the government is keen to support UK investments in Kenya.
“We have profiled opportunities available in Special Economic Zones to UK investors. We are now asking them to take up the spaces available in these areas,” he said.
The CS made the remarks at his office in Nairobi after holding a meeting with UK High Commissioner to Kenya Neil Wigan and His Majesty's Trade Commissioner for Africa John Humphrey.
SEZs are designated and declared custom-controlled areas in a country that is subject to different economic regulations than other regions within the same country. Kenya has 15 gazetted SEZs.
The purpose of SEZ inter alia is to attract Foreign and Domestic direct investments where goods introduced and services provided are generally regarded, in so far as import duties and taxes are concerned, as being outside the customs territory.
They are widely and increasingly considered an important policy tool for economic development.
On Tuesday, Mvurya noted that the UK is the largest foreign direct investor in the country.
“There are 350 Foreign Direct Investments from the UK in Kenya in various sectors. We are keen on supporting these investments and attracting even more,” he added.
Humphrey said the SEZs create a climate for investments and business growth.
“We are looking at how we can improve the relations. I will be heading to Naivasha on Wednesday for a tour of the Special Economic Zone there,” he said.
Wigan said there is a potential for Kenya and UK to growth trade relations even further.
