2019 budget is a boost to manufacturing
| Jun 13th 2019 | 1 min read
We are pleased to see that Cabinet Secretary for National Treasury and Planning Henry Rotich has exempted VAT for services for plastic recycling plants and lower corporation tax for 5 years to 15 per cent for investors operating plastic recycling plants to promote waste management. Manufacturing one of the big 4 pillars was considered power reduction, and both import and exports streamlining to reduce delays of goods, plus public private investors incentives.
This will stimulate more employment to support goals for manufacturing to support over 15 per cent of Kenya GDP. Implementation of big 4 successes will be driven by private sector which drives innovation, employment, exports revenue, competitiveness and growth of intra Africa trade. A lot has to be done next few years to create new jobs across Africa.
Chris Diaz -Group Director Bidco Africa and Chair of Kepsa East Africa Affairs Sector Board.
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