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{
    "id": 1085379,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1085379/?format=api",
    "text_counter": 378,
    "type": "speech",
    "speaker_name": "Sen. (Dr.) Milgo",
    "speaker_title": "",
    "speaker": {
        "id": 13174,
        "legal_name": "Milgo Alice Chepkorir",
        "slug": "milgo-alice-chepkorir"
    },
    "content": "I beg to move that Investment Promotion (Amendment) Bill (Senate Bills No.2 of 2021) be read a Second Time. As I was saying, I was inspired to amend this Bill having looked at the marketing and investment environment right now. It is changing more than ever before. In fact, to remain on the competitive table, there must be very strong strategies at both the county and national Government levels. More specifically at the county level is the new investment front. Unless there are proper strategies to attract, retrain and benefit investors, it will become a challenge to remain on the table. There is an emerging urban middle class as well as a new generation in the country right now. This group of people requires high quality goods and services. Madam Temporary Speaker, together with this, technology is impacting the world more than ever before in the most challenging ways. Unless we leverage on technology, many businesses and investments will end up closing shop. Looking at the business environment, I think right now more than ever before, a lot of bureaucracy is affecting businesses. In this case, we are going to one stop shop where you go to one place and get licenses, business permits and even obtain information based on the nature of investments available in whichever area. Kenya is strategically positioned in East and Central African. In addition to that, it has very good infrastructure as well as very many forms of business with the newly devolved units. Most contributions on statements this afternoon have talked about the tax regime that is affecting businesses, consumption and the economy generally. As I am moving this Bill, we have lost many businesses to our neighbouring countries of Tanzania and Uganda based on the nature of our tax regimes."
}