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{
    "id": 924881,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/924881/?format=api",
    "text_counter": 167,
    "type": "speech",
    "speaker_name": "Nominated, ANC",
    "speaker_title": "Hon. Godfrey Osotsi",
    "speaker": {
        "id": 13172,
        "legal_name": "Godfrey Osotsi",
        "slug": "godfrey-osotsi"
    },
    "content": " Thank you, Hon. Temporary Deputy Speaker for the opportunity to contribute to this very important Motion. I think this is one of the most well thought out Motions that this House has debated. I want to thank Hon. John Waluke for bringing this important Motion to this House to be debated. The trade deficit is a very important economic variable. When we talk about trade deficit, we are talking about many other aspects that affect the economy. We are talking about foreign aid, foreign direct investment, balance of payments, interest rates and currency valuations. All these issues are impacted by the trade deficit or trade surplus. Therefore, when you look at it, you realise that this is a very important aspect of the economy that this House should take very seriously. This Motion in the amended form seeks to provide measures to bridge the trade deficit by providing incentives to potential investors, farmers, fishermen and livestock farmers. The issue of provision of incentives is key because we cannot produce enough for export if we are not investing in our farmers and our investors so that they can produce more goods and services for export. It also seeks to support the local production through promotion and protection of local industries. This country has to relook at its industrialisation policy because most of our industries are dying. I want to commend the President for opening RIVATEX and the promise of reopening Kisumu Cotton Mills (KICOMI). We also need them to consider reviving our sugar industry. We have Mumias Sugar Company, Muhoroni Sugar Company, Nzoia Sugar Company and all The electronic version of the Official Hansard Report is for information purposes only. Acertified version of this Report can be obtained from the Hansard Editor."
}