13 February 2014

Kenya to Establish Free Trade Zones in Mombasa

Nairobi — The Cabinet has approved the establishment of Free Trade Zones in Mombasa in order to stimulate local, regional and international trade as well as investments.

According to the Cabinet, the establishment of the Free Trade Zone will attract global and local investors and Multi National Corporations (MNCs) to Kenya which will improve Kenya's global competitiveness.

"The Free Trade Zone will also open up a ready market for the wider African continent and thus spur numerous economic activities for the country," Cabinet said.

The Zone is expected to raise the country's trade volumes as well as create the much needed jobs by enabling goods to enter into the Zone duty free where traders from Kenya and the region can purchase them without having to travel to traditional destinations like Dubai, China and Japan.

"It is expected to start operations with motor vehicles, household goods and construction materials amongst others," Cabinet noted.

The Cabinet also approved the Budget Policy Statement (BPS), 2014, the Division of Revenue, 2014, and the County Allocation of Revenue Bill, 2014.

The BPS policy also contains the measures to improve power supply through production of cheaper and affordable energy. Extend access to quality social services; improve health care by undertaking reform in the sector and Scale up of social protection.


Crowd Throngs for Papal Mass

Kenyan Catholic leaders are expecting over a million people to attend an open-air mass led by Pope Francis in the … see more »

Copyright © 2014 Capital FM. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 1,700 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.