Harness untapped opportunities, incentives in counties, Waiguru tells investors

Council of Governors (COG) Chair Anne Waiguru says counties are the new frontier for investment due to the numerous untapped opportunities and incentives.

Waiguru said to catalyze investment, counties are offering tax incentives, reducing bureaucracy, and simplifying the process of starting and running businesses in the devolved units.

She said each 47 County Governments has unique opportunities for investment and are working hard to provide a conducive business environment that promotes innovation and entrepreneurship.

Speaking during the opening ceremony of the Homabay County International Investment Conference (HOBIIC) by President William Ruto in Homabay county, the Governor asked investors to work with County Governments in exploring these untapped opportunities across sectors and to take advantage of our vast arable land and favorable climatic conditions for a wide range of crops.

She asked the private sector to take advantage of the counties’ strategic position as a regional hub for manufacturing to capitalize on the opportunities under County industrial parks, special economic zones, and exporting processing zones.

Saying the potential for renewable energy and health sector in counties is enormous, Waiguru said with collaboration, investors can tap into the opportunities for clean energy production, establishment of modern medical facilities, pharmaceutical manufacturing, and research partnerships.

Further, she said Kenya’s rich biodiversity and breathtaking landscapes make it a premier tourist destination with opportunities in eco-lodges, hospitality sub sector, and related tourism services.

“Kenya’s rapid urbanization requires substantial infrastructure development. Investment opportunities abound in the construction of essential infrastructure projects including establishment of industries and aggregation centers in the special economic zones

“Counties, as the engines of grassroots development, hold the key to unlocking the vast potential of our local economies,” Waiguru stressed.

Waiguru further said devolved units have prioritized adoption of digital technologies both in agriculture and provision of government services to create a conducive environment for business.

“This include the implementation of online revenue management systems and digital land registries, which have revolutionized the way these services are offered,” she said.

To provide skilled labour for investors, the governor said counties are also providing youth with training in digital skills as they constitute a significant portion of the unemployed population.

She said counties have also established incubation hubs, mentorship programs, and offering access to funding to support start-ups and entrepreneurs.

“Provision of necessary infrastructure and amenities, including the establishment of the County Aggregation and Industrial Parks, markets, and connection to necessary amenities also remains a priorities to counties so as to attract investors,” she said.

The COG Chair said the Homabay conference serves as a blueprint for other counties across the country to spur economic growth.

Waiguru said County Governments are in sync with the national agenda of bolstering the country’s production capacity to revitalize key sectors, aiming to enhance productivity, eliminate hunger, lower the cost of living, generate employment, and foster inclusive economic growth.

In line with this commitment, she said counties have earmarked specific value chains for strategic focus, aligning them with the broader national value chain agenda with each identifying at least five viable value chains with significant potential for aggregation, value addition, and industrialization

“By intensifying efforts to establish market linkages within their identified value chains, Counties can catalyze transformative change. This approach creates opportunities for local producers and entrepreneurs, reinforcing economic resilience and fostering inclusivity,” she added.

She said enhancing women’s digital connectivity can improve their business performance and financial market access.

 

The post Harness untapped opportunities, incentives in counties, Waiguru tells investors appeared first on KBC.