The SEZ (Special Economic Zones) Authority has set up a one-stop web portal with the support of the IFC (International Finance Corporation, World Bank). The portal will strengthen communication, transparency and service offerings for existing and potential investors in the special economic zones of the country.
The web portal, to be found at www.sezauthority.go.ke, will help the SEZ authority adapt its investor contact, retention and follow-up strategies to an online interactive platform promoting investment, growth and job creation in Kenya supports.
Special economic zones are demarcated areas with unique business rules. They provide private companies with high quality, cost-effective, reliable infrastructure, efficient customs services, regulatory predictability and even tax incentives. Kenya has ten Special economic zones. Kenya aims to increase competitiveness through special economic zones by ensuring regulatory and administrative predictability, high-quality industrial infrastructure and market access.
At present, Kenya still has restrictions on private sector competitiveness, particularly inadequate industrial infrastructure, complex and costly regulatory requirements, institutional coordination challenges and sectoral restrictions that limit value creation.
“Special Economic Zones are an important pillar of Kenya’s industrialization agenda, value creation and a platform to mobilize and catalyze private sector investment,” said Hon. Betty Maina, Cabinet Secretary, Department of Industrialization, Trade and Business Development. “We will work hand in hand with the SEZ authority to increase the private sector’s contribution to GDP and to increase investment generation, especially in manufacturing.”
âThe portal is a repository that enables visitors to learn and interact with the agency in real time about cross-cutting issues. It also provides information on opportunities and incentives, including investor roadmaps and facilities, available investment programs and sectors, administrative and tax incentives. Meshack Kimeu.
Investors can also apply to lease land in the Special Economic Zone’s public parks as soon as they are available for rent, sign up for news, subscribe to the SEZ authority’s bulletin, access the resource center and submit online applications through the portal.
âStrengthening investment in industrial infrastructures such as special economic zones is key to growing the Kenyan economy. IFC will continue to support Kenya in establishing special economic zones to give investors easier access to essential infrastructure and simplified mechanisms for registering and operating businesses, âsaid Amena Arif, IFC Country Manager for Kenya.
The SEZ authority will regularly update the website with statistics and analysis reports on the socio-economic development of the country as well as a roadmap for investors with data on the requirements for starting a business in Kenya. It will also include a description of the current investment projects and the measures and incentives the Kenyan government is adopting to support operating industries and new projects as soon as they are made available to the public.
The portal was developed with technical support from the IFC’s Kenya Competitiveness Enhancement Program (KCEP). In Kenya and around the world, the IFC is helping catalyze new investments in SEZs by assisting in formulating the legal, regulatory and administrative environment for SEZ development and providing governments with the tools to carry out regulatory oversight in SEZs and to ensure the relief of investors.