The Ministry of Industrialization and Enterprise Development (MOIED) has been making efforts to ensure that the country develops economically. Some of the efforts have been to ensure that there are external investors.
The government has been making strides in line with vision 2030 to ensure Kenya transforms into a newly industrializing, ‘middle-income country providing a high-quality life to all its citizens by the year 2030’.
Consequently, it has set objectives that are geared towards the creation of a robust, diversified and competitive manufacturing sector in three ways:
- Boosting local production,
- Expanding to the regional market and
- Taking advantage of global.
Several international startup companies have ever since registered to do business in the country, something which has helped not only in the growth of the industrialization sector but also in the reduction of unemployment in the country.
Recently, the government granted a Singapore based firm permission to open a clothes manufacturing factory in the country.
Mas Holdings Singapore Ltd is set to be located in Athi River and was granted the go-ahead by the Export Processing Zones Authority (EPZA).
The move by the government will see the country benefit economically as the company intends to invest up to a total of Sh1.1 billion with approximately 440 million channeled to the purchase of machinery from outside the country.
Besides, Mas Holdings Singapore Ltd will play a key role in reducing unemployment in the country as it will create over 3,000 jobs. Also, the company will be exporting several products to the US among other foreign countries.
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