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{
"id": 1438654,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1438654/?format=api",
"text_counter": 142,
"type": "speech",
"speaker_name": "Prof. Njuguna Ndung’u",
"speaker_title": "The Cabinet Secretary for the National Treasury and Economic Planning",
"speaker": null,
"content": "Towards actualising development objectives to the public, the Government in March 2024 launched the Fourth Medium Term Plan for 2023/2027. The MTP IV, as we call it, translates the better aspirations into concrete priority interventions to be implemented by both levels of government. Those are premised on the value chain approach, which will target sectors with the highest impact to drive the economy and sustain economic recovery. The key priority interventions focus on the following value chains: Leather and leather products, textile and apparel, dairy, the tea industry, the rice sector, edible oils, the blue economy, and natural resources, including minerals and forest, and finally, construction and building materials. The value chain approach ensures rational resource allocation by eliminating the wastage of resources that is occasioned by duplication, overlap, fragmentation, and ineffective coordination in the implementation of the programme and projects while promoting a whole- of-Government approach to service delivery. To create employment, special focus has been given to investment in special economic zones and county aggregation and industrial parks, diversification of export markets, and market access of goods and services from micro, small and medium enterprises. The Government will also undertake the following targeted strategic interventions to support economic transformation: First, the Government will continue to maintain macroeconomic stability and enhance security to foster a secure and conducive business environment while protecting Kenyans and their properties; Second, the Government will scale up the development of critical infrastructure in the country, such as roads, railway, air, seaports, energy and water, and reduce the cost of doing business and ease the movement of people and goods as well as promote competitiveness. Third, the Government will enhance investment in key sectors for broad-based sustainable growth by promoting agricultural transformation, growth in manufacturing, environmental conservation and climate change mitigation, stimulating growth in tourism and sustainable land use and management. All this in management will actually refocus us in terms of how we can get moving in those sub-sectors; Fourth, the Government will enhance human capital development through investment in health, education and appropriate social safety nets for vulnerable populations for improved social and economic outcomes; Fifth, the Government will support the youth, women and even persons living with disabilities through Government-funded empowerment programmes that leverage partnerships with private sector organisations; Sixth, the Government will support county governments through the transfer of shareable revenues to strengthen their systems and capacity in service delivery. It is important to note that for the first time since the advent of devolution, county governments are getting shareable revenue that is surpassing Ksh400 billion. Lastly, implement various policy and legal institutional reforms that will enhance the efficiency of public service delivery. On investing in climate change mitigation and adaptation to enhance resilience, the effects of climate change have become detrimental to economies across the globe, with extreme weather events affecting the lives and livelihoods of millions of people. The rising cost of adaptation is diverting funds from essential services like health care and education and potentially destabilising economies. Kenya has not been spared from the negative effects of climate change. The recent unprecedented floods that our country faced following the prolonged drought in 2021 and 2022 claimed lives, caused injuries to many people, and wreaked havoc on property, infrastructure and livelihoods. The Government responded promptly and undertook short-term measures to mitigate the devastating impacts of the drought and floods. Going forward, we shall formulate The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}