State to spend Sh132b to promote industries

By Jackson Okoth

The Government plans to spend Sh132 billion to promote industrial development which includes setting up special economic zones, a free trade area in Mombasa and an industrial park in each of the 47 county governments.

According to the Medium Term Expenditure Framework covering the periods 2014/15 – 2016/17, this amount will be scaled up to Sh154.5 billion in 2014/15 and Sh172.7 billion in 2016/17 financial year.

Exports from Economic Processing Zones (EPZ) stand at Sh41.41 billion while direct local employment in the EPZ stands at 32,516 people.

In the next financial year, 2014/15, there is a plan to do feasibility studies and planning of three special economic zones in Mombasa, Lamu and Kisumu.

This work plan also includes land transfer and resettlement costs as well as development of infrastructure in the three special economic zones. There is also a plan to acquire land for setting up the Mombasa free trade zone. Development of infrastructure will also be done in 5 pilot counties and infrastructure in 10 counties.