Industrialization fund will help fight joblessness,Mutua

Machakos Governor Alfred Mutua.PHOTO/ FILE

The government needs to set aside an industrialization fund for creating economic zones in each constituency.

This is according to the Machakos governor and Maendeleo Chap-chap party leader Alfred Mutua.

Appearing before steering committee on the implementation of the building bridges initiative (BBI) on Wednesday, Mutua, said the move will ensure equitable development and create wealth and jobs for the youths who are languishing in poverty at the moment.

Mutua added that the economic zones in the constituencies, and later to the wards, will woo investors to buy land and build godowns that will uplift the business around the areas.

“A lot of Asians, Europeans, and Americans, and even local investors, are being inhibited from investing in Kenya due to the high cost of set up, especially because many want to engage in their core areas of business only,” said Mutua.

In addition, the party proposed the creation of innovation and value addition centers so that Kenyans can become producers of goods and services for export and not just consumers of goods from other economies.

“Countries that want to share their goods in Kenya must reciprocate by buying our finished goods and services without unnecessary barriers to trade,” he added.

This comes amidst massive layoffs by companies over the hard economic times in the country.

Unemployment in Kenya is expected to rise to 10.5% from the current 9.3 % by the end of 2020 according to the World Bank.