8 Jul 2021 in Senate:
The legal mandate affecting investments and laws that are covered in this has been a challenge apart from the tax regime that is a major challenge to our country. Yesterday, many of our Senators spoke about taxes that are already suffocating our country in every area. I think that investors are looking out for tax waivers, cost benefit incentives and very many other issues before they can invest in any country.
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8 Jul 2021 in Senate:
Faced with these economic issues, as I said, there are very many investment fronts in our country. We only need laws that are going to speak to issues on investment so that it goes along with economists. This Bill tries to bring on board the counties which I said are the new investment fronts. If there will be many investments in the counties, without any doubt this shall create employment. Our youth will have many business opportunities and it will raise the standards of living.
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8 Jul 2021 in Senate:
Madam Deputy Speaker, this Bill seeks to amend the Investment Promotion Act, to ensure the participation of county governments in the promotion of trade in the country. The Bill also seeks to include the participation of county governments in the formulation and implementation of policies and strategies formulated by the Kenya Investments Authority (KIA), to attract both foreign and local investors in the counties. The Bill further seeks to streamline the management of the authority by outlining the specific qualifications for appointment of board members and their tenure of office. The constitution of the office of the Managing-Director (MD) has ...
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8 Jul 2021 in Senate:
The major amendment to this Bill was in Clause 14. Clauses 1, 2 and 3 are majorly definition of terms. They change the word “Minister” to “Cabinet Secretary,” redefine the meaning of the word “board,” and define what we mean by “Council of Governors” (CoG) and County Public Service Board (CPSB), because these are new terms. A major amendment comes in Clause 3, where we amend and clarify additional information that is required to be put in writing. Clause 4 was also amended to ensure that we reduce the members of the board, which did not have members of the ...
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8 Jul 2021 in Senate:
Clause 7 has also been amended to speak to the conduct of the members and how they can vacate office. It rotates around the issues of absence, integrity and declaring interest on any issue that comes on board. Clause 8 was deleted, and Clause 9 was amended to speak to the issues of remuneration of the board members that are paid by the authority. The board members should be paid as stipulated by the Salaries and Remuneration Commission (SRC). There is also an amendment to Clause 23 (1) and 23 (2) (a) to specify the recruitment of the Managing Director ...
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8 Jul 2021 in Senate:
creating the County Investment Unit (CIU). As I said earlier, this Bill is majorly trying to bring on board the new front of investment which is the county government. Madam Deputy Speaker, this CIU is under Clause 26 (c) (2) and it is speaking to how to appoint the members of the CIU to include the Chief Officer. It even stipulates the staff who should be appointed to that CIU. Clause 26 (d) is setting off the functions of these CIU to facilitate investments in the county by formulating policies in line with the National Investment Authority (NIA) policies. Apart ...
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8 Jul 2021 in Senate:
It is speaking to the issues of engaging the community when it comes to investments in the counties and inform them about the potential investors. Subsection (g) of that clause is speaking to the fact that this unit should work closely with the NIA so that we have a smooth linkage. As I introduced this Bill earlier, I was talking about the lack of linkages for investments. That is the reason why investment in our country is having a challenge.
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8 Jul 2021 in Senate:
Madam Deputy Speaker, as I end, I encourage the Committee on Tourism and Trade to enhance this Bill by inviting other people to add to this. By the time we come to the Third Reading, we shall have enhanced this Bill even better. I thank you and submit and request Sen. (Dr.) Zani to second.
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8 Jul 2021 in Senate:
Thank you, Madam Deputy Speaker. I beg to move that pursuant to Standing Order No.105(1), the debate be now adjourned.
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8 Jul 2021 in Senate:
Madam Deputy Speaker, I wish to second this Bill brought by Sen. (Dr.) Zani. Let me, first of all, thank her for bringing such a great Bill. Very many of us have been complaining and requesting for an Implementation Committee because there is so much work that has been done by this House since we started in 2017. Some of the work has been collecting dust. We have had several Motions, Statements and Committee proceedings. In fact, on a quarterly basis, we have committees presenting the work that they have done. Yesterday we listened to the Chairperson of the Committee ...
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