Tatu City model set to guide EAC policy on economic zones
BENCHMARK: Tatu City’s mixed-use Special Economic Zone (SEZ) will be used as a case study to guide policy on the establishment of the zones in the region.
The discloyre was made after the conclusion of a third benchmarking visit by a delegation of Ugandan government executives and parliamentarians led by Permanent Secretary for Treasury Ramathan Ggoobi (pictured), who described the city as a success story with rapid development, long-term investment and job creation.
He said the decision emerged from conversations between Uganda’s SEZ Authority and Kenya Investment Authority.
Return on investment
“We are here because Kenya is a leader in Special Economic Zones, and we believe Tatu City will provide us with a good opportunity to learn a few things, especially on best practices of creating an environment for investors, which is comfortable, competitive and gives them a good return on investment,” Ggoobi said.
He added: “We aim to upgrade our engagement with Kenya, become a region of choice for quality investors and transform this region economically.”
“We have resolved to go and have more conversations at the East African Community (EAC) level with a view to eliminating the few remaining hurdles to actualising SEZs.”
During a briefing session with the Ugandan delegation, Tatu City’s Executive Vice President Solomon Mahinda described the benchmarking visit as a demonstration by the EAC Community of a readiness to collaborate among members, and, most importantly, to accelerate the ease of doing business within member states.
He said there is enormous potential for regional co-operation on the regulatory environment for SEZs to spur investment, trade and, most importantly, job creation.
This consultative approach amongst EAC member States at government level, where there’s active participation by public and private sector players, increases our confidence that the region is on the right trajectory towards creating a conducive investment environment,” Mahinda added.
Located just 30 minutes from Central Nairobi, Tatu City has two schools – Crawford International and Nova Pioneer – which educate more than 3,000 students daily, thousands of apartments by Unity Homes and family residences in Kijani Ridge.
Kenya’s first operational Special Economic Zone, Tatu City, has welcomed more than 70 companies to its business-friendly location. SEZs are demarcated areas with unique rules of business.
