27 March 2014

Kenya: State to Boost EPZ Market

INVESTORS in the Kenyan export processing zones are set for a bigger share of the East African market if a move by the government to increase its market segment materializes. This follows government's plan to review the current market share which restricts EPZ's to sell only up to 20 percent of their products into the domestic market.

Industrialization cabinet secretary Abdulla Mohammed yesterday said the government is considering a move that will allow the investors to sell more goods to the regional market. Speaking yesterday when he opened an EPZ forum in Mombasa, Mohammed said the move will enable investors benefit from the fast growing market in the region.

"Other Investors are benefiting from the local market yet our own EPZ are not accessing the market. What we want is to unlock the bottlenecks and see businesses succeed in the country," said Mohammed.

The zones were created twenty five years ago to promote an export-led economy meant to improve the country's economic growth prospects.

Mohammed said the government is also keen on balancing trade noting that the country imports more than it exports.

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