Nakuru Governor Kinuthia Mbugua. The county has allocated Sh180 million
to create investment opportunities in the region in a bid to revive its
economy this year. PHOTO/FILE.
NATION
The quest by Nakuru County to revive its
economy this year has started in earnest following allocation of Sh180
million to create investment opportunities in the region.
The
money would be used to purchase land, a factor of production, that is
becoming too expensive for investors wishing to open business in Nakuru,
said county governor Kinuthia Mbugua.
“Establishment
of industries in the county would have a trickle effect on our regions’
economy and I urge potential investors to capitalise on the enormous
business opportunities in the county to expand their operations,” he
said.
The money was recently factored in the county’s revised Sh10 billion budget for 2013/2014 financial year.
Mr
Mbugua unveiled an ambitious industrial park project in a strategy to
woo both foreign and local investors who have been expressing interest
to put up business in the county.
The region’s
administration has in the recent past toured various countries including
China and Spain where it signed agreements with investors wishing to
expand their enterprises to enter the East African Community market
through Nakuru which is strategically located for such ventures.
HUGE POTENTIAL
Mr
Mbugua also indicated his commitment to revive collapsed local
industries by giving incentives and other support to ensure youth in
Nakuru get jobs.
“There is a huge potential for
establishment of industries to process dehydrated vegetables, potatoes,
peas and even canned beans, and other fresh produce which can be sold
locally and to the COMESA region,” the governor told the business
community.
He also pledged to expand existing markets
in all urban centres where more than Sh200 million has been budgeted for
their rehabilitation.
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