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{
    "id": 736740,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/736740/?format=api",
    "text_counter": 75,
    "type": "speech",
    "speaker_name": "Hon. Wakhungu",
    "speaker_title": "",
    "speaker": {
        "id": 1889,
        "legal_name": "Chrisantus Wamalwa Wakhungu",
        "slug": "chrisantus-wamalwa-wakhungu"
    },
    "content": "Thank you, Hon. Speaker. I second the Bill as ably moved by Hon. Metito. Mine will be brief because he has mentioned almost everything. The Bill will put Nairobi on the global perspective. We know that Nairobi contributes almost 60 per cent of the Gross Domestic Product (GDP) of this country. The idea of making Nairobi the International Financial Centre is wonderful because it is centrally located in the East African region. So, it will attract many investors. The climate is very conducive and the labour market has the skilled, semi-skilled and non-skilled labour. So, this will add much value in job creation. By making Nairobi an international financial centre, our counties will benefit because of ease of accessibility. To be a global centre, some critical issues must be put in place in terms of threshold such as infrastructure, security and aspects of technology. Once these are put in place, it will benefit Kenyans. Having an international financial market centre here will make it easy when it comes to foreign direct investors. More multinational corporations will be established here and they will provide employment to our youth who are tarmacking. Multinational corporations will bring global brands which have been tested into our economy. This will enhance technological transfer. Different expertise from various countries will be transferred to our local market. In a short period, we are likely to see skills of international standards in the Kenyan markets. The issue of having the President as the chairman of the steering council is a critical issue. It will enhance quick decision-making. With global organisations, decision-making must be on time. We do not need issues of bureaucracy here and there. The fact that the President will be the chair, it will be given the attention it requires. Many international airlines land in Nairobi, for example, KLM, British Airways, Emirates and Delta is yet to come. With all these, Nairobi is ready to be an international financial centre. 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."
}