The government is implementing robust measures to foster industrial growth and ensure it is commensurate with the country's Gross Domestic Product (GDP).
President William Ruto said the government is equipping Special Economic Zones with the necessary facilities to attract investors.
He noted that this will attract foreign direct investment, drive industrial growth and increase exports.
“Exports are a very important agenda because we are importing too many things that can be manufactured locally,” he added.
He pointed out that this will position the country to benefit from the African Continental Free Trade Area, African Growth and Opportunity Act and other markets.
President Ruto made the remarks on Saturday at Maai Mahiu, Nakuru County, where he commissioned 90 MVA Naivasha Special Economic Zone Sub-Station.
The president said the Sh700 million facility will have three separate lines that will complement one another to ensure an uninterrupted power supply.
He added that the power station will use geothermal power to produce 100 per cent clean energy, setting the pace for the country’s green industrialisation.
To ease the cost of operations, President Ruto said the government has reduced the cost of power in the Naivasha Special Economic Zone.
“This is where the cheapest power will be found at Sh5 per kilowatt hour,” he added.
President Ruto also issued licences to six companies that will invest a total of Sh30 billion, creating more than 3,000 jobs.
“I am very happy that one of the companies investing here will be producing steel that will be used to support our industrialisation agenda and our house programmes, among other economic activities,” he added.
The President announced that the government has increased the acreage of land in the special economic zone from the current 1,000 acres to 6,000 acres.
The government is also establishing another five special economic zones in Mombasa, Thika, Sagana, Eldoret and Busia.
The Head of State noted that the government's interventions in the past year have propelled Kenya to the third most attractive investment destination in the world.
Deputy President Rigathi Gachagua said the Naivasha Special Economic Zone will turn around the fortunes of residents in the region.
The President also toured the completed Affordable Housing Programme in Bondeni, Nakuru, where 360 of the 605 units have already been sold.
“This is the era where low-income earners will own homes. They will not pay rent all their lives,” he added.
Later, the President launched the Kiambiriria-Kuresoi-Chepsir Road, a 40-kilometre stretch that will facilitate access to resources, opportunities and services.
He said this is the time to change Kenya.
“We must get it right this time around. Through our plan and leadership, we will transform Kenya.”
The President was accompanied by Cabinet Secretaries Rebecca Mìano, Davis Chirchir, Zachary Njerù, Nakuru Governor Susan Kihika and other local leaders.
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