CS Salim Mvurya Plans to Revamp and Improve the Economy
The Cabinet Secretary (CS) Ministry of Investment, Trade and Industry Salim Mvurya , has assured the stakeholders in Industry on Plans to do reforms in areas of Manufacturing, Trade and Investment inorder to improve the economy of the Country.
The CS was accompanied by Principal Secretary Abubakar Hassan in charge of investment promotion, Principal Secretary Trade, and Industry Dr. Juma Mukhwana.
Present were also Kenya Association of Manufacturers (KAMU) Kenya National Chambers of Commerce and Industry (KNCCI), Kenya Private Sector Alliance (KEPSA) and other Industry stakeholders.
“The government has previously put a lot of measures to spur both domestic and foreign trade such as promoting structured trading, having agreements with different countries. We have also provided a lot of incentives for investment in the special economic zones and we have also provided a lot of incentives for investment in the special economic zones, We have also provided space for manufacturing through infrastructure and other efforts that we have done across the country. We have also had efforts in making sure that we have regulations that can inspire most of the sectors, however, from feedback.” Said Cabinet Secretary Salim Mvurya Ministry of Trade, Investment and Industry.
He further observed that, looking at our export performance and also in manufacturing, there are a lot of struggles and consumer protection is still being implemented with a lot of significant gaps.
And then the overall situation is exactly what we are looking for now, that kind of feedback and looking at the environment we have decided to do a public participation process.
He further noted that, ‘Public participation process will also be done by inviting key stakeholders for physical meetings but also allow them to participate online and other forms.. We want to do this up to the 27th of September so that then we are able to receive critical input that will be very specific on how we can rejuvenate and inspire the manufacturing sector looking at key measures that will attract, incentivize and derisk private investments in all sectors of the economy. Also, rationalize incentives to boost manufacturing and also look at measures that will improve consumer protection and fair trade measures to improve the performance of the export sector in all its facets, which include trade services domestic and most of the areas that relates to the export sector harmonizing taxes within the manufacturing sector.
Part of what we have had is that we don’t have a very stable tariff environment, which really has a lot of bearing on manufacturing and they have always said that we need that to be very predictable and consistent, so picking all those specific areas we want now to officially invite public participation to receive proposals so that those proposals can help us to formulate a policy and develop the necessary legislation that will work with Parliament to ensure that we we resolve this matter.’
He added that sending out a public notice which they will also share with Media.
‘Looking at our exports and manufacturing, there are a lot of struggles, and this needs improvement Public participation will begin where stakeholders will engage through online to get critical input that can help rejuvenate the sectors of the economy. Boost manufacturing measures to improve the economy sector in all facets.’ He added.
The Ministry is inviting members of the public , traders, Manufacturers, investors, experts, the private sector, civil society, professional bodies, academia, religious groups, and other stakeholders to submit their proposals not later than 27th Friday September, 2024.
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