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{
    "id": 1224032,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1224032/?format=api",
    "text_counter": 181,
    "type": "speech",
    "speaker_name": "Sen. Oketch Gicheru",
    "speaker_title": "",
    "speaker": null,
    "content": "Thank you, Mr. Speaker, Sir. I rise to support this very important Statement by my friend, Sen. Cherarkey. Where are were are today, if we do not start thinking critically about how we cultivate FDI into this country, we will have a very big problem. I am very proud of the fact that Sen. Cherarkey has touched on the issue of the Ministry trying to look keenly on the policy interventions. This statement comes at the backdrop of the discussion around the Budget Policy Statement (BPS). I know it has gone to the National Assembly, we have had very interesting conversation with the relevant Cabinet Secretary (CS) for National Treasury and Planning. As Sen. Cherarkey submits this Statement to the Ministry of Trade Industrialization and Tourism, it is very critical that the Ministry looks at some of the policy framework that has been put in consideration of the BPS. Mr. Speaker, Sir, one of the biggest problems that makes it difficult for FDI to get into the country is of lack money supply in the economy. This is because investors make decisions on the basis that they can make profit. In the BPS, there is a lack of nexus between monetary policy and fiscal policy. This is because if these investors are going to make decisions, it is a very simple thing they are going to look at, is there money in the economy? Can they invest in a way that they will make money? To the extent, the intersect between fiscal policies that we saw in the BPS, and the interest rates in the country, it is very critical that these policy interventions as Sen. Cherarkey has asserted are looked into. Right now, what is facing our country is that investors are making very simple decision of whether the 14 per cent interest rate, profit management and risk premiums make sense to them to invest in the country. Lastly, another policy framework that we saw in the BPS, that is very critical for the Ministry of Trade Industrialization and Tourism to look into is the issue areas that we should invest as a country to attract these FDI. In the BPS, we saw a number of areas that the Government was trying to say they want to attract investment in. As I said, when foreign investors are making investment decisions, they look at areas of investment that will bring them benefits."
}