Workers package avocados for export at Kakuzi, an agricultural firm. The government has announced plans to establish a fund to promote industrial growth and exports. [David Gichuru, Standard]
The government has revealed plans to establish an industrial and export promotion fund.
Principal Secretary for State Department of Industry Dr Juma Mukhwana said the fund will be established from the monies taxed on imports.
He said the fund will also receive money from the exchequer and development partners.
''Already the Ministry of Investment, Trade and Industry through the State Department of Industry has completed a public participation exercise to establish the export promotion levy,'' said Dr Mukhwana.
He added: ''The levy will be imposed on imported finished products that the country is able to manufacture.''
The PS while addressing stakeholders in Nairobi said every time the country imports products, it also exports jobs.
Mukhwana said that it is time the country protects itself from cheap imports and sometimes counterfeit products in order to support the local manufacturing and youth employment.
He lamented that the country has become a dumping ground for items that can be made locally by lowering the cost of manufacturing.
''Plans are underway to lower the cost of electricity for manufacturing in order to make the country competitive regionally. The country is also working around the clock to improve its competitiveness in manufacturing,'' said the PS.
Mukhwana added that the country is gearing up to become a launching pad into East Africa and Africa to support African-wide free trade.
