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{
    "id": 252902,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/252902/?format=api",
    "text_counter": 138,
    "type": "speech",
    "speaker_name": "Dr. Kituyi",
    "speaker_title": "The Minister for Trade and Industry",
    "speaker": {
        "id": 293,
        "legal_name": "Mukhisa Kituyi",
        "slug": "mukhisa-kituyi"
    },
    "content": " Mr. Deputy Speaker, Sir, I beg to reply. (a) I confirm that new investments worth Kshs10.5 billion were processed and approved in the year 2005, out of which Kshs6.5 billion was by foreign investors. (b) The new investments were realised in the service, manufacturing, tourism and agricultural sectors of the economy. (c) The following incentives were given to the new investors: exemption from duty and Value Added Tax (VAT) for machinery and equipment for manufacturing projects, in addition to 100 per cent investment allowance, exemption from duty and VAT for construction material, fixtures and hotel equipment in the hotel industry, in addition to the 100 per cent investment allowance and 100 per cent investment allowance for manufacturing under bond projects, duty and 524 PARLIAMENTARY DEBATES April 19, 2006 VAT exemption for machinery, equipment and raw materials. But I will hasten to add the following. These projects exclude the investments that came through the Export Processing Zones (EPZs) Authority, investments that were negotiated directly with development finance institutions, and hotel industry investments that were channelled through the Kenya Tourism Development Corporation, and basically those that were channelled through the Kenya Investments Authority."
}