The CEO of Kenya Investments Authority, John Mwendwa, has confirmed that the country’s improving ease of doing business is attracting investments and creating economic opportunities. New investments in Special Economic Zones are generating significant job creation, despite some companies facing challenges and relocating. This growth is further supported by the establishment of new logistics parks and the continuous commitment to enhancing the business climate by the government.
Kenya Investments Authority CEO John Mwendwa emphasized that the country’s favorable business conditions are continuing to draw in investors and generate economic opportunities. Speaking during the inaugural event of The Link Warehousing and Logistics Park in Tatu City, Mwendwa reported significant investments in Special Economic Zones and Export Processing Zones, leading to new job creation.
While some companies are relocating due to competitive pressures, many others are establishing substantial investments in Kenya. “The notion that some companies are relocating due to a difficult business environment has not had a serious impact on business, as many more others are setting up multibillion investments in the country,” he stated, highlighting the government’s commitment to fostering a conducive business climate.
Dr. Kenneth Chelule, CEO of the Special Economic Zones Authority, supported Mwendwa’s assessment, pointing out the significant opportunities in medium and small enterprises. He noted that in just three years, over 40 special economic zones have emerged, allowing more than 90 fully licensed enterprises to operate within these areas, facilitating economic growth.
Chelule mentioned that the establishment of the new Logistic Park in Tatu City will add to the existing 100 investments in the zone. He highlighted that upcoming projects, such as those in Dongu Kondu and Naivasha, will see billions of dollars in lease agreements finalized soon. This expansion signals ample investment opportunities in the Special Economic Zones.
Preston Mendenhall, COO at Rendezvous, which oversees Tatu City, reported that the park has attracted nearly 100 companies, generating over 25,000 jobs in various sectors, including manufacturing and logistics. This diverse job creation ranges from high-skill roles to positions in assembly, electronics, beverages, and baked goods.
The current landscape in Kenya indicates a thriving business environment attracting substantial investments, particularly in Special Economic Zones. While some firms may choose to relocate, the influx of new investors signifies ongoing economic potential. The government’s initiative to foster a more conducive business atmosphere appears to be successful, with numerous job opportunities emerging as a result.
Original Source: www.kenyanews.go.ke
