Entry Instance

HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept

{
    "id": 303858,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/303858/?format=api",
    "text_counter": 420,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "In my current engagements, these are the issues that we have come across in many fora. Recently, we came from a very successful investment conference in London where investors were specifically asking questions which are being raised here today. The other time, we had a programme in Morocco by some of our Eastern Countries. We have just come back from the Forum on China-Africa Co-operation (FOCAC) Conference in Beijing on the investments agenda and as you will realize, most of our countries are now the fastest growing countries in Africa. This Bill attempts in many ways to address the issues related to financing, construction, development and the operations of the infrastructure and all the development projects of the country either through concession or other contractual arrangements. This Bill also brings on board the institutions to regulate, monitor and supervise implementation of project agreements. That is why the issues being raised here are valid. Without this Bill being passed into an Act of Parliament, we will not be able to manage and sustain the programmes of Public Private Investments. If we look at the Government participation, we will find that the resources within the Government are limited. We can all see it on the Floor of this House when we compete for resources in the various sectors of our Government and each line Ministry saying that it does not have enough resources to meet the demands of Kenyans. This is one sure way of jump-starting the economy or in being able to mobilize resources from sources within and without so that you can fund some of the flagship programmes that the Government has fast tracked. This is because not everybody will walk in and start a project which has not been carefully studied and agreed upon by the Government as a priority. Therefore, there are safeguards which this Bill is trying to bring in. Whereas we may allow the private sector to behave in the manner they want, if they want to partner with the public sector, they must move along the lines of priority projects which in the opinion of the Government or the public sector can add value to the national economy and, certainly, to our Gross Domestic Product (GDP). When the Lamu Port-Southern Sudan-Ethiopia Transport Corridor (LAPSSET) project as a flagship of Vision 2030 was set up, it was obviously clear that you would have a massive development agenda namely socio-development, industrial development, transport – corridor development and irrigation projects along the route. You require heavy capital investment to implement the LAPSSET project and the Government cannot do it alone. What the Government can do is only to bring this money to create basic infrastructure by developing a port in Lamu, developing one or two berths and the rest of the people can see it as a viable project that they can partner with the Government and proceed on. That is why it is in the interest of this nation that the Minister for Finance indicated in his Budget that there was a provision of Kshs2 billion in order to create this viable environment for the investors to see that this is a reality and it is no longer a talk show. It is serious business and the Government is committed to it and, therefore, we are willing to invest in that project. For the investors to come in, they will need a law that will regulate them. They also need an institutional mechanism that will regulate them. One of the things that this House may be fully aware of is the Kenyan Diaspora. The Kenyan Diaspora which is run by my Ministry at the moment is one of the areas that have vast resources but unfortunately, we have not been able to organize and channel those resources to productive use or for the development of our country, Kenya."
}