Home Business Local Business CEO optimistic expansion of Export Processing Zone will spur growth

CEO optimistic expansion of Export Processing Zone will spur growth

The Export Processing Zone Authority (EPZA) says it has set up modern fabricated industrial warehouses that will facilitate a One-Stop investment Center to create a friendly ready environment for investors eager to operate at full capacity in its existing zone.

The EPZA Athi-river BPO is among the three projects set up at a tune of 1.3 Billion. Others include Sameer Park(Nairobi) and Majorel Kenya Solution (Mombasa).

Channel 1

The fabricated warehouses have been designed in a manner that favors investors who intend to invest beyond textile and garment ventures.

EPZA Chief Executive Officer Mr Hussein Adan said the Agro-processing which currently stands at 24 percent of the total export and pharmaceutical investments are also among emerging opportunities investors want to invest in.

“EPZA seeks to meet the rising demand for industrial space. The readily fabricated warehouses present opportunities to investors to acquire ready modern working space on demand,” said Mr Adan.

The CEO further said local real estate developers registered under the EPZA program will competitively be offered an opportunity to set up the structures.

“The Ministry of Industrialization, Trade and Investments is committed to promoting the bottom-up economic model and that is why we will also involve local investors in the construction opportunities available at the Export zones,” he added.

Adan further said tax holidays and streamlined operations offered by the Export zones have been key enablers that continue attracting investors despite the global economic downtimes.

“Semi-autonomous government agencies’ policies have been very significant in improving efficiency of business operations. The move has ensured investors’ concerns are well taken care of and arising challenges addressed,” he added.

In 2023, EPZA increased the value of exports by 19.6 percent compared to 2023 and facilitated USD 717 million worth of investments.

“The signing of Kenya-EU EPZA has given market access to all Kenyan products to reach EU 27 countries. We are also stepping up production of cotton from 5,000 acres in 2022 to 40,000 acres this year across the 24 counties across the country,” elaborated CEO Adan.

KBC Correspondent
+ posts
kiico