Kenyan government sets aside money for leather parks
06/04/2017
In making the remarks during a debate about the country’s budget for 2017-2018, cabinet secretary, Henry Rotich, said growth in the economy had allowed businesses across the country to create almost 850,000 new jobs in 2015 alone.
“We have laid a very strong foundation for industrialisation over the past four years,” he said. “We firmly believe it is the right time for Kenya to solidly move to middle-income economy status.”
In moving towards this, Mr Rotich said modern leather industrial parks will be an important component of the government’s strategy for creating more jobs.
The government has designated around $15 million to such projects for the leather and textile sectors. It says special economic zones will also be rolled out, through which tax and capital incentives will be provided to manufacturing companies to stimulate economic productivity.
There are separate incentive funds for encouraging entrepreneurship among young people.
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