The quest by Nakuru County to revive its economy this year has started in earnest following allocation of Sh180 million to create investment opportunities in the region.
The money would be used to purchase land, a factor of production, that is becoming too expensive for investors wishing to open business in Nakuru, said county governor Kinuthia Mbugua.
“Establishment of industries in the county would have a trickle effect on our regions’ economy and I urge potential investors to capitalise on the enormous business opportunities in the county to expand their operations,” he said.
The money was recently factored in the county’s revised Sh10 billion budget for 2013/2014 financial year.
Mr Mbugua unveiled an ambitious industrial park project in a strategy to woo both foreign and local investors who have been expressing interest to put up business in the county.
The region’s administration has in the recent past toured various countries including China and Spain where it signed agreements with investors wishing to expand their enterprises to enter the East African Community market through Nakuru which is strategically located for such ventures.
Mr Mbugua also indicated his commitment to revive collapsed local industries by giving incentives and other support to ensure youth in Nakuru get jobs.
“There is a huge potential for establishment of industries to process dehydrated vegetables, potatoes, peas and even canned beans, and other fresh produce which can be sold locally and to the COMESA region,” the governor told the business community.
He also pledged to expand existing markets in all urban centres where more than Sh200 million has been budgeted for their rehabilitation.