13 February 2013

Kenya: Tax Cuts for Industrial Boost ? Njiru

The government will allow duty free importation of equipment meant for development. Industrialisation PS Cyrus Njiru said the move is meant to enable the country achieve Vision 2030.

"Our vision is to focus on facilitating and promoting industrialisation to achieve Vision 2030," said Njiru. Speaking to investors in Meru town in Imenti North, Njiru said the government will increase prices of imported goods which can be made locally to motivate local industries.

He said the increase will discourage Kenyans from importing locally available materials. He called on the youth to borrow money from the industrialisation Development Bank even if they do not have guarantees.

Njiru told them they can give loans "at a friendly interest rate". The PS said his ministry is ready to help unemployed youth.

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