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{
    "id": 473432,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/473432/?format=api",
    "text_counter": 395,
    "type": "speech",
    "speaker_name": "Hon. Waweru",
    "speaker_title": "",
    "speaker": {
        "id": 1378,
        "legal_name": "Dennis Kariuki Waweru",
        "slug": "dennis-kariuki-waweru"
    },
    "content": "Among the benefits that we stand to get from these kinds of investments are, for example, saving a lot of foreign exchange in importation of oil. We are also going to generate a lot of employment for our youth. As you know, there will be a lot of activities; we are going to get a lot of support services that we are going to create employment. This might also give us the necessary raw materials for our industries, transfer of knowledge from oil producing countries and other minerals and we are going to diversify our FOREX income not to over-rely on tourism and Diaspora returns among other sources. But most importantly, it is the stabilization of our FOREX which might make the cost of living a bit cheaper. I know my colleague here has talked about deepening of the markets; derivative futures and commodity markets which I think is most welcome but the most important thing for our country is to understand that for a resource on the ground, somebody must come, invest and risk his money and with a lot of uncertainty, we cannot attract those kinds of investors if we do not have the necessary friendly regulatory framework. I am very impressed with the sharing ratios between counties and the national Government in the region of 60 to 20 to 10 per cent but I would have preferred it to be 70 to 20 to 10. We may probably change it in the Committee of the whole House."
}