Developers moot special economic zones' lobby

Cold storage building. [Courtesy]

Business leaders in the manufacturing sector have formed the Association of Special Economic Zones (ASEZ) to unify industry developers, operators, enterprises, investors, and service providers.

The lobby aims to promote best practices and enhance national and regional SEZ governance. DL Group of Companies chairman and founding chairperson of ASEZ David Langat emphasised the importance of this association.

"The establishment of ASEZ marks a pivotal moment for Kenya's economic future. With the support of global and regional associations, we are dedicated to bridging policy and regulatory gaps, ensuring that our SEZs are competitive on the world stage," said Langat. "This is not just about economic zones; it's about creating a prosperous future for Kenya and Africa."

ASEZ will complement government efforts to foster a favourable business environment and attract foreign direct investments (FDIs) by collaborating with State agencies, participating in initiatives, and supporting policy enhancements.

It will also advocate for global best practices aligned with UN Sustainable Development Goals, promote modern SEZ practices to boost job creation and skill development, research to inform policies and highlight SEZs as prime investment hubs to enhance ease of doing business.

This will help attract FDIs, generate employment, increase tax revenue and drive economic growth. Executive Vice President at Tatu City SEZ and founding Vice Chairman of ASEZ Solomon Mahinda said the platform brings together diverse stakeholders working to enhance Kenya's economic zones.

"This association is essential for driving innovation, attracting investment, and facilitating trade. We invite other SEZs to join us on this journey," said Mahinda.

Globally, SEZ best practices are championed by the World Free Zones Organisation and the Global Alliance of Special Economic Zones, in collaboration with the World Trade Organisation, World Customs Organisation, UN Trade and Development, and United Nations Industrial Development Organisation.

Regionally, the Africa Economic Zones Organisation is key in networking, advocacy, and elevating trade-related matters to regulators and stakeholders.

ASEZ members will enjoy favourable investment support and close collaboration with entities such as the Special Economic Zones Authority, Kenya Investment Authority, and the Ministry of Trade, Investment and Industry.

Members will also access global best practices, networking opportunities, and trade facilitation.