NAIROBI, Kenya, July 15 – Cabinet Secretary for Investments, Trade, and Industry, Hon. Lee Kinyanjui, on Monday toured Tatu City, a 5,000-acre mixed-use Special Economic Zone (SEZ) close to Nairobi, as the federal government seeks to strengthen the SEZ framework to draw extra native and worldwide funding.
The go to included a tour of key developments throughout the zone, together with Tatu Industrial Park and Tatu Central, town’s industrial and residential district. CS Kinyanjui additionally visited Kijani Ridge, a totally serviced residential property throughout the zone.
Speaking in the course of the tour, the CS mentioned Kenya’s SEZ coverage stays central to its funding technique, citing the necessity for reforms that may make the nation extra aggressive as a regional funding hub.
“With shifting international financial dynamics, Kenya is well-positioned to draw worldwide corporations. Zones like Tatu City supply a structured surroundings that helps enterprise operations from the outset,” mentioned Kinyanjui.
“While the present incentives are aggressive, we’re reviewing further reforms to make SEZs extra aware of investor wants.”
Tatu City is residence to greater than 100 corporations, together with logistics companies, producers, actual property builders, and academic establishments. According to its developer, Rendeavour, town welcomes roughly 25,000 folks each day who dwell, work, or examine throughout the improvement.
Stephen Jennings, Founder and CEO of Rendeavour, mentioned continued engagement with authorities stakeholders is necessary for bettering the funding surroundings.
“For Kenya to stay enticing to international traders, collaboration between the non-public sector and policymakers is vital to shaping long-term financial methods,” he mentioned.
The Cabinet Secretary was joined by senior officers together with Principal Secretary for Investment Promotion Abubakar Hassan Abubakar, Kenya Investment Authority CEO John Mwendwa, and executives from the Special Economic Zones Authority.
Companies working throughout the Tatu SEZ profit from tax incentives, together with a decreased company tax charge of 10 % for the primary 10 years and 15 % for the next decade, in addition to VAT zero-rating and exemptions on import and stamp duties.
