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Investment, Trade, and Industry Cabinet Secretary Rebecca Miano EGH joined His Excellency President William Ruto on Tuesday morning for the inauguration of Nexgen Packaging Kenya EPZ Limited.
This latest addition to Kenya’s Export Processing Zone (EPZ) program marks a significant achievement, pushing the total number of licensed EPZ companies in the country to 170.
Nexgen Packaging’s commitment to investing USD 2 million in the Kenyan project is a testament to Kenya’s growing appeal as a global investment hub. The company’s decision to include Kenya in its portfolio, which already boasts 19 global operations, underscores the country’s standing as an attractive investment destination.
President Ruto highlighted the government’s strategic efforts in bolstering the textile and apparels sub-sector, which have granted Kenya a competitive edge in the global market. These initiatives have not only spurred investment but have also contributed to the expansion of the manufacturing sector, leading to increased exports and job opportunities.
“We have strategically intervened in the textile and apparels sub-sector, attracting both local and international investors and fostering the growth of our manufacturing base,” President Ruto stated. “This has resulted in increased exports and has created job opportunities for thousands of factory workers and over 40,000 cotton farmers.”
In furtherance of these efforts, an $11 million partnership between Kenya and the United States has been announced. This collaboration is expected to elevate the textile and apparels sub-sector to unprecedented heights, further solidifying Kenya’s position as a key player in the global textile industry.
Cabinet Secretary Rebecca Miano expressed her enthusiasm about Nexgen Packaging’s investment and its potential to drive economic growth. “Nexgen Packaging’s investment is a vote of confidence in Kenya’s economy and a significant step towards realizing our vision of becoming a regional manufacturing powerhouse,” Miano remarked.
The launch of Nexgen Packaging Kenya EPZ Limited marks a new chapter in Kenya’s economic development, promising increased investments, job creation, and a stronger manufacturing sector. With the government’s strategic interventions and partnerships like the one with the United States, Kenya’s textile and apparels sub-sector is set for remarkable growth in the coming years.
