Nairobi: The Cabinet Secretary for Lands and Housing, Alice Wahome, has applauded Murang'a county for holding a unique investment conference, stating it establishes a new benchmark for county-driven economic transformation.
According to Kenya News Agency, the CS, speaking at the Murang'a Investment Conference on June 13, commended the county for attracting investors and reaffirmed the government's commitment to aligning land use for sustainable development. She emphasized that land is fundamental to all development efforts. Wahome highlighted that industrial development is crucial for achieving economic growth in the country and assured that the national government will support Murang'a county through strategic partnerships.
Wahome cited the National Spatial Plan (NSP) formulated in 2015 as a significant recognition of the relationship between land use and economic development. The plan provides a spatial framework for achieving economic efficiency, global competitiveness, balanced regional development, livable human settlements, and environmental sustainability while identifying strategic investment areas in counties based on potential, challenges, and opportunities.
The NSP acknowledges Murang'a's agro-potential and recommends measures for its exploitation through the provision of suitable infrastructure for manufacturing. It also outlines the county's challenges, such as defining urban growth limits to manage land fragmentation and suggests measures to conserve water towers and forest resources, including Gatare, Karua, Kimakia, Kiambicho, and Wanjerere forests.
The CS emphasized that the county's primary focus is on manufacturing, industrialization, health, and recycling. She mentioned the collaborative efforts between the Ministry of Lands and Housing and the County Government of Murang'a in developing a strategic site in Makenji, Kenol, which was ceded by Del Monte to the county. The site is strategically located along the A2-Thika Superhighway, offering excellent connectivity to Nairobi and other towns, and has favorable features for investment and industrialization.
The Ministry of Land and the county government have completed the land use planning process and ground survey, and they are now preparing titles to secure investments, such as the Export Processing Zone (EPZ), which has already started its industrial investments. The ongoing affordable housing project in Makenji aims to provide housing to Murang'a residents, particularly workers in the proposed Murang'a Industrial Park, Medi city, and other related developments.
Murang'a governor, Irungu Kanga'ata, encouraged investors to take advantage of the incentives provided and establish manufacturing industries and businesses in the designated industrial park. He highlighted the benefits for those investing in the Export Processing Zone, including a 10-year corporate tax holiday, a 10-year withholding tax holiday, a 100 percent investment deduction on new investment, and operations under a single license issued by the EPZA.
Investing in the Special Economic Zone (SEZ) offers additional benefits, such as zero-rated tax on the supply of goods or taxable services to an SEZ, stamp duty exemption on executing documents, and exemption from withholding taxes on royalties, among others.