Kenya has introduced special incentives to attract more investments to the country, but they could sound the death knell for export processing zones.
Investors have expressed concern over controlled market access and the creation of special economic zones, whose investors will enjoy unlimited access to local and international markets.
Kenya plans to set up the special economic zones in key urban areas as part of its Vision 2030 goal to diversify manufacturing activities and create employment.
President Uhuru Kenyatta has signed into law the Finance Bill 2015, which spells out key measures to revamp activities in the special economic zones. The zones are currently undergoing a pilot programme in Mombasa, Lamu and Kisumu. Read more. Source | The East African