Tuesday, February 18, 2014

Kenya plans zones to draw textile firms away from Asia

Kenya is setting up three special economic zones that will offer tax breaks to lure global textile firms and help it seize a share of the West's textile market now dominated by Asian rivals, the industry minister said. The east African nation of 40 million people has a fairly diversified economy and is popular with tourists, but exports are dominated by farm commodities with volatile prices and low returns, leading to a gaping current account deficit.

If it succeeds in drawing textile

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