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Govt to strengthen Savings and Credit Cooperative movements

21 November 2013, 12:36 Samuel Kisika

Nairobi - The government has vowed to strengthen Savings and Credit Cooperative (Sacco) movements to foster their roles in the products' value addition, and to ensure that local communities participate in its agenda of national industrialization.

Joseph Kinyua, the Head of Public Service, said the government has prioritized the focus on creating appropriate incentives to attract Foreign Direct Investments through Special Economic Zones, the Free Trade Zone, industrial parks and clusters to develop the counties in their industrial plans.

"The long needed restructuring of our industries, increasing their capacity, attracting new investments will be addressed in seeking job creation opportunities for our people," said Kinyua.

"The collaboration of key Ministries to ensure infrastructure plans are aligned and support industrialization, such as Energy, access to credit, skills and skill development, ease of doing business and transport will be key towards realizing our industrialization dream," he added.

Kinyua also said the government targets to expand areas under irrigation and modernize agriculture, establish disease free zones to support development of livestock sector, develop and enhance management of exclusive economic zone to exploit the rich marine resources. He added the it will further establish special economic zones to support the manufacturing and export sectors, and support the development of the nascent oil and other mineral resources sector.

He further said priority will be accorded to implementation of programmes and projects to develop the country's human resources with a special focus on programmes to empower the youth through financial assistance and training to enable them acquire skills and engage in productive employment.

"The government is committed to implementing measures to strengthen our economic competitiveness through accelerating governance and public sector reforms, and through increasing government spending on expansion, development and modernization of rail, road, ports, airports, energy, and ICT and telecommunications infrastructure," said Kinyua.

To enhance efficiency and competitiveness of the economy, Kinyua said the government will support and facilitate the private sector to invest in infrastructure and other sectors of the economy including the Public Private Partnerships arrangements.

Adan Mohamed, the Cabinet Secretary Ministry of Industrialization and Enterprise development, said the opportunity to industrialize requires good leadership, vision and long-term commitment to an economic transformation through the process that capitalizes on its resource endowments, high commodity prices and the changed organization of global production process.

"The government's second Medium Term Plan aims at putting the economy on a high, broad based, inclusive and sustainable growth trajectory to attain the target of an average 10 per cent real GDP growth rate of Vision 2030," noted Mohamed.

Mohamed said a high and sustainable GDP growth is essential for the industrialization agenda chiefly to create jobs especially for the youth who constitute 36 per cent of the nation's population, with 61 per cent of them unemployed.

He said the government plans to revamp struggling and collapsed local industries to increase the nation's productivity and job creation.

The two government officers were speaking during the launching of Kenya's Industrialization Road-map annual conference.  

Disclaimer: All articles and letters published on MyNews24 have been independently written by members of News24's community. The views of users published on News24 are therefore their own and do not necessarily represent the views of News24. News24 editors also reserve the right to edit or delete any and all comments received.

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