Kenya is committed to hosting more automotive players to increase local production of vehicles.
President William Ruto said the National Automotive Policy has created a conducive environment for firms to set up in Kenya.
He noted that the policy has tamed instability in the sector, especially regarding tax laws.
“Our plan is for more assemblers to set up and operate at full capacity so that we can supply Africa with competitive units,” he noted.
The President said this will create more jobs, enhance skills development and reliable mobility.
He maintained that it was time for Kenya to claim its rightful place among Africa’s leading vehicle manufacturers.
The Head of State spoke on Wednesday when he launched the first ever electro-deposition paint plant at the Isuzu East Africa
It is expected that the KSh500 Million will deepen the firm’s manufacturing, improve local production and make it globally competitive.
Present were Isuzu East Africa Managing Director Rita Kavashe, Trade Principal Secretary Alfred K’Ombudo, Isuzu East Africa Chairman Hiroshi Hisatomi, Deputy Chief of Mission Counsellor in the Embassy of Japan Kitagawa Yasuhisha, among others.
“With investments like Isuzu’s, we can propel Kenya back to its original vision of leading Africa’s automotive competitiveness.”
The President urged investors to advance their investment in Kenya by moving into Tier One component of manufacturing.
He said Kenya intends to fully exploit the immense opportunities presented in the automotive industry’s untapped potential.
Mr Yasuhisha noted that Isuzu’s investment will stimulate the transfer of technology, knowledge and expertise.
“It also furthers eco-friendly manufacturing at a time when the world is confronting climate change.”
For the last four years, Isuzu East Africa has invested Ksh 1.3 billion in the expansion and upgrade, sending a clear signal of its confidence in Kenya as an investment destination