President William Ruto is set to depart the country on Friday, November 29, to attend the East African Community (EAC) Summit in Arusha.
Speaking at the African Special Economic Zones (SEZs) Annual Meeting at KICC, Nairobi, the President emphasized the importance of fostering a favorable business environment and expanding regional trade.
Ruto revealed that one of the key items on the summit’s agenda is the approval of Kenya’s Special Economic Zone framework.
“Tomorrow in Arusha, the EAC heads of state will meet, and the item of the Special Economic Zone that our ministers agreed on will be approved,” he said.
Highlighting the significance of SEZs, the President underscored their role in attracting investments, creating jobs, and driving economic development.
He also noted that the newly approved EAC Special Economic Zone Regulation of 2024 will facilitate the free movement of goods across member states, positioning SEZs as pivotal engines for growth.
“Our SEZs are crafted to attract impactful investments that create jobs and foster development.
The 2024 EAC regulation will bolster free trade among member states, further catalyzing economic zones as drivers of transformation,” he added.
President Ruto invited local and continental investors to explore opportunities in Kenya’s economic zones, emphasizing the need for collaborative efforts to elevate Africa’s economic prospects.
“I am grateful to the Africa Economic Zones Organisation, industry leaders, development partners, and the private sector for their commitment to advancing Africa’s economy,” he said.
This upcoming trip follows President Ruto’s recent engagements on the global stage, including visits to South Sudan in November to strengthen regional cooperation and to China in September for the Forum on China Africa Cooperation (FOCAC) Summit, where he held bilateral talks with Chinese President Xi Jinping.
Ruto continues to position Kenya as a key player in regional and international economic discussions, championing trade and development initiatives that benefit the continent.
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