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Kenya has unveiled a Special Economic Zone (SEZ) in its latest move to lure investors into supporting the country’s industrial growth.
Located at the coastal city of Mombasa, the Dongo Kundu Special Economic Zone launched by President Uhuru Kenyatta over the weekend is designed to be a multi-sectoral zone comprising of Industrial Parks, Free Trade Zones, Free Port, Dongo Kundu Port, Tourism Zone (MICE), Business Service Parks; and Commercial and Residential Zone.
READ ALSO:Kenya attracts major American Investors despite decelerating economy
The SEZ will be developed in three phases with the first phase expected to be ready by 2023 and is projected to inject into the Kenyan economy Sh400 billion($ 3.9 billion) in local and foreign direct investments and create more than 100,000 jobs.
READ ALSO:Ethiopia beats Kenya in Foreign investments
According to President Kenyatta, the Dongo Kundu SEZ will herald a milestone transformation in the coastal region …