2022 SUCCESSION

Raila woos businesses with tax break pledge as 2022 race hots up

He promised to target industries with realistic chances of penetrating the global market.

In Summary

•The ODM leader said he would like to see the private sector empowered to make Kenya a trading nation.

•He went on to say that his government will provide a level playing ground for small and medium-size firms and big corporations.

ODM leader Raila Odinga
ODM leader Raila Odinga
Image: RAILA ODINGA/TWITTER

ODM leader Raila Odinga on Monday outlined his 15-point agenda for the private sector, if elected president in the next General Election.

In a statement, the ODM leader said he would like to see the private sector empowered to make Kenya a trading nation.

“Increased exports will increase our revenues, create jobs, give us foreign currency reserves, boost our national saving and drive our international competitiveness,” Raila said.

To actualise this, the former Prime Minister whose emphasis is on manufacturing for export, said his administration will give tax breaks to the private sector, subsidised credit, state guarantees for borrowing, tariff exemptions and preferential access to imported inputs required to produce exports.

He went on to say that his government will provide a level playing ground for small and medium-size firms and big corporations.

“Our administration will pay particular attention to helping small and medium sized companies overcome challenges in overseas markets, give them export support services and diplomacy interventions,” he said.

Raila said his government will support the sector in shifting to exporting raw material and agricultural produce to industrial manufacturing.

He also pledged to help Kenyan companies secure international contracts.

“We shall provide firms with economic diplomacy and support them through political and economic intelligence, introduction and advice to exploit opportunities in new markets,” the former PM said.

Raila said his government will set up a body dedicated to long term planning and regular review meetings of the export agenda.

He promised to target industries with realistic chances of penetrating the global market based on the current situation in the country and globally.

“We will sponsor monthly trade promotion meetings, bringing together highest-level government officials, key ministries, exporters, researchers, education institutions and trading companies for exchange of ideas, information, goals and to improve coordination and mutual understanding between private and public sectors.”

Raila said he will push for revamping of the Export Promotion Council and award excellent exporters.

“We will continue investing in education, training, research and development, efficient bureaucracy and strong financial systems in support of the private sector,” he said.

“Our intention is to invest in knowledge economy to help invigorate the ICT sector and make it engine of growth and become a source of foreign exchange.”

This is another of series of outlines Raila has been sharing with Kenyans on what he intends to do, if elected president in 2022.