KISUMU, Kenya, Nov 13 – The government is seeking to attract local and foreign investment into Kenya’s maritime sector through a proposed policy offering fiscal and non-fiscal incentives to unlock the potential of the blue economy.
The draft Kenya Maritime Investment Policy and Incentives Regime was presented to stakeholders in Kisumu on Friday during a public participation forum organised by the State Department for Shipping and Maritime Affairs in collaboration with the Kenya Maritime Authority (KMA).
The proposed framework seeks to coordinate investment across the maritime industry, with incentives targeting activities ranging from fisheries and port operations to shipbuilding, maritime transport and green energy.
Joseph Kabeku, KMA Director of Maritime Trade and Development, said the policy was intended to position Kenya as an attractive destination for domestic and foreign investors by bringing different activities in the sector under one framework.
“The policy seeks to make Kenya an attractive destination for both domestic and also for foreign investors,” said Kabeku.
The proposed incentives include capital allowances, Value Added Tax exemptions and relief from railway development levies and import declaration fees.
Non-fiscal measures will include infrastructure development, streamlined documentation, improved operational procedures and reforms to the legal and regulatory environment governing maritime investments.
The policy covers fisheries, ports, maritime transport and logistics, shipbuilding, ship repairs and recycling, container manufacturing, ship bunkering, maritime…
