Kenya is dedicated to hosting additional automotive businesses in order to promote local car production.
President William Ruto stated that the National Automotive Policy has provided a favourable atmosphere for businesses to establish themselves in Kenya. He stated that the approach has reduced sector volatility, particularly with relation to tax legislation.
"Our goal is for more assemblers to establish and run at full capacity so that we can supply Africa with competitive units," he said.
According to the President, this will result in more employment, improved skill development, and consistent mobility. He insisted that Kenya's due place among Africa's major automotive makers has arrived.
The Head of State discussed the occasion when he opened Isuzu East Africa's first-ever electro-deposition paint facility.
The KSh500 million is anticipated to expand the firm's manufacturing, boost local output, and make it more globally competitive.
Isuzu East Africa Managing Director Rita Kavashe, Trade Principal Secretary Alfred K'Ombudo, Isuzu East Africa Chairman Hiroshi Hisatomi, Deputy Chief of Mission Counsellor at the Embassy of Japan Kitagawa Yasuhisha, and others were present.
"With investments like Isuzu's, we can help Kenya return to its original vision of being the most competitive automotive nation in Africa."
The President asked investors to increase their investment in Kenya by expanding into Tier One manufacturing components. He stated that Kenya plans to fully capitalise on the huge prospects given by the automobile industry's untapped potential.
Mr Yasuhisha stated that Isuzu's investment will promote technology, knowledge, and expertise transfer. "It also promotes environmentally friendly manufacturing at a time when the world is dealing with climate change."
Isuzu East Africa has invested Ksh 1.3 billion in development and renovation over the previous four years, demonstrating its trust in Kenya as an investment destination.
Posted on : 03 Oct,2023 | News Source : adqz.co
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