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{
    "id": 522771,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/522771/?format=api",
    "text_counter": 179,
    "type": "speech",
    "speaker_name": "Hon. Korir",
    "speaker_title": "",
    "speaker": {
        "id": 1356,
        "legal_name": "Wesley Kipchumba Korir",
        "slug": "wesley-kipchumba-korir"
    },
    "content": "companies can borrow money from China at a lower interest rate than our companies who borrow from Kenyan banks. If a company in Kenya goes to a bank and borrows money, they are charged 18 per cent interest rate. If a Chinese company goes to China and borrows the same amount, they are charged five per cent interest rate. They come here and bid. According to our procurement laws, they end up being the lowest bidders and they get the contract. If you leave it like that, Kenyans will not be getting contracts. It will be for people from outside because they can borrow at a lower rate. Those are the issues that we must be focusing on to make sure that we protect the interests of Kenyans. As we move forward, I would like to see those things envisioned in this Bill. If they are not, then we need to bring good amendments to protect our Kenyan people. By doing that we will be protecting the economy.If a Kenyan is given a contract, that money remains in this country. If a Chinese is given a contract, be assured that that money does not stay in this country; it goes out of this country. If we do that we will be empowering and building other countries rather than ours. Another issue I have is government to government tendering. It is a matter that we faced a lot when we were doing the Standard Gauge Railway. A company from China can come here and single source because it is a government to government tendering. If any company is doing work in this country, I propose that it should abide by the laws of this country. They are working in this country and using our money. Even if it is a loan from another country, rest assured that it is the taxpayers of this country who are paying for it. There is no way we can say that those people are excluded from the laws that we create in this country. They should follow the procurement law like any other company doing business in this country."
}