Speaking at a press conference on Sunday, the Chairman of the Kenya National Chamber of Commerce and Industry (KNCCI) urged the government to reduce taxes on Kenyan manufactured industrial products in order to attract foreign investment.
David Githere pointed out that as a result of punitively high taxes for businesses located in the country, not only were foreign investors being scared off, but domestic businesses and investors were relocating to other African countries with more favourable tax regimes, such as Uganda and Tanzania.
'We appeal to the government to even apply zero taxation in some areas if they really want the Kenyan economy to improve through investment,' journalists were told at the weekend.
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