Investment, Trade, and Industry Ministry Aims for Economic Growth: Key Deliverables Revealed

In a recent address, Investment, Trade, and Industry Cabinet Secretary, Rebecca Miano EGH, outlined the Ministry’s ambitious goals aimed at propelling economic growth and fostering investment opportunities. Miano emphasized the importance of these objectives in driving the nation towards prosperity and development.

The Ministry’s key deliverables include:

Growth of Investments: Miano aims to increase investments from the current 19.5% share of GDP to 25% by the medium term, set for 2027/28. This expansion is poised to inject vitality into the economy, attracting both domestic and foreign investors.

Increment of Export Value: Another focal point is the augmentation of export value, targeting a surge from the current 11.9% share of GDP to 25% by the medium term of 2027/28. This move is expected to bolster the country’s position in global trade markets, enhancing its competitiveness.

Contribution of Manufacturing to GDP: Miano envisions a substantial rise in the contribution of the manufacturing sector to GDP. The goal is to elevate its share from the current 7.2% to 15% by the medium term of 2027/28, with a further target of reaching 20% by 2030. Achieving this milestone requires significant resource allocation to revitalize the sector.

In pursuit of these objectives, Miano led a delegation from the Ministry in engaging the National Assembly Departmental Committee on Trade, Industry, and Cooperatives, chaired by Hon. Gakuya. Discussions centered on the consideration of Supplementary estimates 2 for FY 2023/24 and the Annual Estimates for FY 2024/25.

Miano expressed gratitude for the support and collaboration received from Members of Parliament, acknowledging their crucial role in advancing the Ministry’s agenda. The concerted efforts between the Ministry and Parliament underscore a commitment to realizing tangible progress in the outlined areas of focus.

As the nation sets its sights on economic transformation, Miano’s strategic vision and proactive engagement with stakeholders signal a determined drive towards a more prosperous future.

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