GET /api/v0.1/hansard/entries/728679/?format=api
HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept
{
"id": 728679,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/728679/?format=api",
"text_counter": 152,
"type": "speech",
"speaker_name": "Mr. Henry Rotich",
"speaker_title": "The Cabinet Secretary for the National Treasury",
"speaker": {
"id": 13142,
"legal_name": "Henry Rotich",
"slug": "henry-rotich"
},
"content": ". Under this Budget, we intend to provide incentives that will create more jobs for our youth. In the past few years, manufacturing as a share of GDP has stagnated at between 10 and 11 percent. We target to position manufacturing to become a key driver of our economy as envisioned in Vision 2030. Hon. Speaker, over the last four years, we have laid down a solid foundation for industrialisation with our economic transformation agenda. We firmly believe that it is the right time for Kenya to solidly move to middle income status. Therefore, some of the incentives I will be pronouncing today are aimed at revamping certain industries, encouraging establishment of new ones and scaling up production in others. Additionally, on the path towards industrialisation, we will continue to support the leather, textile and apparels, the pharmaceutical and extractive industries in a manner that leverages the labour absorbing characteristics of these sectors. Hon. Speaker, to further promote the development of industries, I have allocated a total of Kshs1.6 billion for the leather industrial park development and textile development. To support the revival of our industries, I have set aside Kshs450 million for modernisation of RIVATEX. In addition, we are finalising an export credit facility from India of US$30 million to further equip RIVATEX. India Exim Bank has also provided a line of credit to Industrial Development Bank (IDB) for on lending to SME activities. We have also provided Kshs250 million for modernisation of New KCC to make it a strategic milk processor. Hon. Speaker, with the Special Economic Zone (SEZ) Authority fully operational, the Government has started rolling out Special Economic Zones (SEZs) in key urban areas, including Mombasa, Lamu and Kisumu as part of the Vision 2030 goal to diversify manufacturing activities, create employment and boost Kenya’s investment profile. Under the SEZs, the Government will provide a host of incentives for industries to operate in and boost creation of modern urban centres. These incentives include exemption on 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."
}