NAIROBI, Kenya, Sep 17 – Kenyan Special Economic Zones (SEZs) have received a boost after the launch of the Association of Special Economic Zones (ASEZ).
ASEZs will play an important role in attracting local and international investments and creating jobs, as well as economic growth.
The new association brings together SEZ developers, operators, investors, and service providers, creating a unified voice to advocate for better policies, streamlined regulations, and infrastructure improvements.
“As the key driver of industrial growth, manufacturing within SEZs has a ripple effect across the economy, creating jobs for our youth and positioning Kenya as a regional powerhouse,” ASEZ Chairman David Langat said.
“Through ASEZ, we aim to strengthen this sector and build on its potential to deliver long-term, sustainable growth,” Langat added.
“ASEZ is committed to ensuring that SEZs operate in a globally competitive, business-friendly environment, and we are excited to work with the government to further drive growth in this critical sector.”
Businesses at SEZs enjoy VAT zero-rating, import and stamp duty exemptions, and 10 percent corporate tax for the first 10 years and 15 percent for the 10 years thereafter.
Examples of SEZs include Tatu City, Konza City, and Two Rivers, among others.
ASEZ members will enjoy favorable investment support and close collaboration with relevant government entities.
Members will also access global best practices, networking opportunities, and trade facilitation. Members such as zone developers, operators, enterprises, or service providers must attain the necessary licenses and approvals within the SEZ ecosystem.
“SEZs are critical to our country’s industrialization efforts, offering fertile ground for investment and job creation,” Solomon Mahinda, Vice Chairman of ASEZ, said.
“With ASEZ, we now have a unified voice to advocate for policies that will unlock the full potential of these zones.”
