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CS Miano Champions for inclusion of SMEs into big businesses

Apr 8, 2024
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The Ministry of Trade has encouraged investments in auxiliary services related to region-support business engagements by way of subcontracting between SMEs and big businesses where possible.

Speaking during the Launch of Cemtech in West Pokot, Trade CS Rebecca Miano said the Ministry has developed the local content policy that calls for in-country-value-addition of raw materials available locally.

The CS said that the limestone deposits for clinker manufacturing available in the region would reduce our dependence on imports and make cement more affordable in the long run adding that it will reduce the depletion of foreign exchange reserves and fit in well with the ‘Buy Kenya, Build Kenya’ strategy.

“We encourage further investments in auxiliary services related to this industry in this region that can support business engagements by way of subcontracting between SMEs and big businesses where possible.” Miano said.

“At my Ministry, we have developed the local content policy that calls for in-country-value-addition of raw materials available locally. This factory will attract many other investments, hotels, and MSMEs. It is catalytic to the growth of our economy.” She added.

Cemtech Factory for cement manufacturing was today opened in West Pokot by President William Ruto saying it will boost the county’s infrastructure.

Read Also:CS Miano to Spearhead Kenya, Tanzania Trade Ties with Ashatu

President Ruto emphasized that the construction of the cement factory will have of great economic impact on the country having created job opportunities for over 2500 residents of West Pokot directly and indirectly.

“For the last six years, manufacturing has come down from 9 per cent of GDP to 7.2 percent, we plan to take it to 20 per cent of GDP and it will not go there through miracles but through investment.” Ruto said.

The President said the goal is to grow the country’s manufacturing sector to an ambitious 20 per cent of our GDP by 2030.

He pointed out that strategic investment in manufacturing will increase exports, create employment opportunities, boost economic activity using local resources and generate attractive returns for investors.

President Ruto said it is, therefore, unreasonable to provide duty and levy exemptions to importers of goods that can be produced locally.

“We shall focus our policies and strategy on encouraging increased local production, in line with the Bottom Up Economic Transformation Agenda,” he added.

The president said Kenya must take advantage of the opportunities provided by the Africa Continental Free Trade Area Agreement, which has created a vast market for the country’s exports.

“We want to create ecosystems and avenues for us to target the export market. We want Kenya to move away from being a supermarket for other countries to be a manufacturer of our goods for export.” he said.

The factory is owned by Cemtech Limited (parent company), a subsidiary of Devki Group.

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