The Deputy President, H.E William Ruto recently presided over in the groundbreaking ceremony of the first Special Economic Zone project launch held in Eldoret. The project will go a long way in establishing industries and hence improve the economy of the region.
The project is expected to attract about 2 billion U.S. dollars of foreign investments with the first phase consisting of a 700-acre industrial park that will house firms focusing from agro-processing to other value add industries.
The project was made possible after the signing of an agreement between the Kenyan and Chinese firms in China during the Belt and Road Forum (BRF) for International Cooperation. Africa Economic Zones (AEZ) and Guangdong New South Group will jointly be responsible for the development of the zone’s infrastructure and other factors contributing to the ease of doing business.
The project, which is the first privately-owned Special Economic Zone will lead to the uptake of raw material which is available from the region. Further, the Economic Zone will be expansively designed and planned to provide an institutional framework, physical infrastructure and administrative services that will ensure a complete smooth operation to support the various economic activities within the Industrial park.
According to the County Governor, H.E. Jackson Mandago, the project will benefit from readily available human resource and expertise from the institutions of higher learning hence provide a source of livelihood for the residents of Uasin Gishu and the region as a whole.
Uasin Gishu is strategically placed and is a link to the western circuit of Kenya, East and central Africa. Further, the county has well-established infrastructure including road, rail and air together with numerous financial institutions.