SEZ Authority Launches a Dynamic Web Portal with IFC Support

By Soko Directory Team / Published August 23, 2021 | 4:11 pm




KEY POINTS

A new portal enables the SEZ Authority to adapt its investor outreach, retention, and after-care strategies to an interactive online platform.


SEZ Authority

With support from IFC, the Special Economic Zones (SEZ) Authority today launched a one-stop-shop web portal to boost communication, transparency, and service provision for current and potential investors in the country’s special economic zones.

The web portal will help the SEZ Authority adapt its investor outreach, retention, and after-care strategies to an interactive online platform, supporting investment, growth, and job creation in Kenya.

SEZs are demarcated areas with unique rules of business. They provide private firms with quality, cost-effective, reliable infrastructure, efficient customs services, regulatory predictability, and even fiscal incentives. Kenya has ten SEZs.

Through SEZs, Kenya aims to boost competitiveness by ensuring regulatory and administrative predictability, quality industrial infrastructure, and market access.

At present, constraints to private sector competitiveness persist in Kenya, notably inadequate quality industrial infrastructure, complex and costly regulatory requirements, institutional coordination challenges, and sectoral constraints limiting value addition.

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“Special Economic Zones are a key pillar for Kenya’s industrialization agenda, value addition, and a platform to leverage and catalyze private sector investment,” said Hon. Betty Maina, Cabinet Secretary, Ministry of Industrialization, Trade and Enterprise Development.

The CS noted that the ministry will work hand in hand with SEZ Authority to boost the private sector contribution to GDP and scale-up investment generation, especially in manufacturing.

“The portal is a repository that allows visitors to learn and interact in real-time with the Authority on cross-cutting issues. Also, it avails information regarding opportunities and incentives including investor road maps and facilities, available investment schemes and sectors, administrative and tax incentives.” said the Acting SEZ Authority CEO, Dr. Meshack Kimeu.

Investors can also apply to lease land within the public SEZ parks once available for rent, sign up for news updates, subscribe to the SEZ Authority bulletin, access the resource center, and make online applications through the portal.

“Strengthening investment in industrial infrastructures, such as special economic zones, is key to growing Kenya’s economy. IFC will continue to support Kenya to establish SEZs to facilitate investors’ access to essential infrastructure and simplified mechanisms for business registration and operation,” said Amena Arif, IFC Country Manager for Kenya.

The SEZ Authority will regularly update the website with statistics and analysis reports on the country’s socio-economic development and an investor’s roadmap with data on what is needed for starting a business in Kenya.

It will also have a description of the current investment projects and the Kenya Government’s measures and incentives to support operating industries and new projects as soon as they are made available to the public.

The portal was developed with technical support from IFC’s Kenya Competitiveness Enhancement Program (KCEP). In Kenya and across the globe, IFC is helping catalyze new investments into SEZs by supporting the formulation of legal, regulatory, and administrative environment for SEZs development, equipping governments with the tools to deliver SEZ regulatory oversight and investor facilitation.




About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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