More than 100 companies have expressed interest in taking part in a planned special economic zone in Mombasa, a development that will lead to establishment of an industrial park at the Coast.
The Dongo Kundu Free Trade Port area is financially backed by the Japanese government and aims to boost manufacturing to take advantage of expansion projects that have boosted the capacity of the port of Mombasa.
More than 100 companies from Japan, Europe and Asia have shown interest in setting up shop at the planned economic zone. Dr Moses Ikiara, managing director of the Kenya Investment Authority, says these developments will help the country tap greater flows of investment dollars.
The setting up of the special economic zone was one of the key agreements struck during the Tokyo International Conference on African Development (TICAD) in Nairobi last August.
The meeting, the first to be held in Africa, agreed to help countries on the continent accelerate their manufacturing sectors.
On April 18, chief executives of more than 100 companies interested in setting up shop at the SEZ met in Nairobi to endorse the initiative.