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{
    "id": 575999,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/575999/?format=api",
    "text_counter": 137,
    "type": "speech",
    "speaker_name": "Hon. A.B. Duale",
    "speaker_title": "",
    "speaker": {
        "id": 15,
        "legal_name": "Aden Bare Duale",
        "slug": "aden-duale"
    },
    "content": "efficient and more organised manner, both for the local and export market. That is the essence of this Bill. Clause 4 provides for the declaration of Special Economic Zones by the Cabinet Secretary (CS) taking into account the need to protect public interest. This Bill says it is only the CS for Industrialisation who is empowered by law to say where we are going to create Special Economic Zones. So, an investor cannot walk into our country and say he wants to establish an industry in Garissa, Mandera, Mombasa or Kisumu and call that area a Special Economic Zone. Clause 5 deals with the criteria for designating and determining the areas in which these Special Economic Zones are to be established. That is why I said earlier that there must be opportunity cost. For example, if you want to have an economic zone you must look at the infrastructure, cost of doing business, cost of power, cost of labour and cost of financial transactions; in that zone we should have financial institutions, cheap power and both skilled and unskilled labour. The body that will be formed will have powers under Clause 5 to share with investors the parameters and criteria for establishing a Special Economic Zones. Clause 6 provides instances where goods processed or imported into a Special Economic Zone are deemed to have been exported or imported. The clause makes it clear how to deal with both export and import taxation measures. Clauses 10 and 11 establish the Special Economic Zones Authority as a corporate body with its own board and management. The Board will be in charge of formulating regulations while the management will be responsible for the day-to-day operations of the Authority. Clause 17 provides for how the staff of the Board of the Authority will be managed, their terms of service, recruitment procedures and administrative structure. Clause 21 provides for the establishment of a general fund of the Authority. Clause 26 provides that persons must be licensed to engage in the business of processing, exporting, importing and other activities within the Special Economic Zones. These will be zones reserved for investors. The clause specifies which investor will qualify to go to the zone to conduct export or import business or engage in any other activity. Clause 28 of the Bill provides the requirements that must be fulfilled when you want to apply for a licence to do business as an investor in the Special Economic Zone. Clause 29 gives the requirements needed for one to pay and the dues to be paid to get a licence to operate in a zone as an exporter, importer, processor, or to carry out any other activity. Clause 36 provides the powers of the CS to issue directions to the Authority in respect of its work and activities. So, the CS will bring regulations to this House on how this law will operate. Clause 38 exempts the Authority from payment of stamp duty for land transactions. Clause 39 empowers the CS, upon recommendation from the Authority, to make regulations for the better carrying out of the provisions of the Act and the business involved. The enactment of this Bill shall occasion additional expenditure of public funds, which will be catered for through the Budget Estimates. This is part of the pieces of legislation that seek to make Kenya a business hub. I want to confirm that President Obama, in a number of his engagements, confirmed Kenya is a serious economic hub in the region. So, the enactment of this Bill will give Kenya an added advantage, a competitive advantage and it will make Kenya a country with ease of doing business. Cheap power, cheap labour, affordable financial services through which investors can access any of their financial requirements, cheap water and good infrastructure are what is making the 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."
}