By Horizon News Reporter
The Government through the ministry of investment, trade and Industry is in the process of Establishing an Industrialization and export promotion fund.
The fund which will initially be established from funds taxed on imports, will also receive funding from the exchequer and development partners.
Addressing stakeholders in Nairobi, the permanent secretary state department of industry Dr.Juma Mukhwana said that already the ministry through the State department of industry (SDI) has completed a public participation exercise to establish the export promotion levy.
“The levy will be imposed on imported finished products that the county is able to manufacture,” he said.
Dr.Mukhwana pointed out that every time the country imports products, it also exports jobs.
He added that it is time the country protected itself from cheap and sometimes counterfeit products in order to support local manufacturing and youth employment.
The PS lamented that the country has become a dumping ground for items in that can be made locally by lowering the cost of manufacturing, he said that plans are underway to lower the cost of electricity for manufacturing.
“In order to make the country competitive regionally, the country is working around the clock to improve it’s competitiveness in manufacturing,” he said.
He pointed out that Kenya is gearing up to become a landing pad in to East Africa and Africa in to support African -wide free trade.