What is in store for companies under coveted flagship status

AN ARTIST'S IMPRESSION OF A SECTION OF THE PROPOSED KONZA TECHNOPOLIS. FILE PHOTO | NMG

What you need to know:

  • Among them are lower taxes and easy as well as faster licensing processes, special work permits for specialised experts and the sentimental value notwithstanding.
  • The special economic zones provides customs and excise duty exemptions, VAT benefits, profit and capital repatriation at reduced rates, as well as enhanced intellectual property rights among other benefits.
  • The flagship status is given to projects with the most innovative ideas and, which are in tandem with goals of the Vision 2030 which are improving quality of life and have the potential to drive Kenya into a middle income and industrialising nation.
  • Among those that have attained this status are Konza, Tatu City, Lapsset, Base Titanium Kwale mining project.

Companies are going all out to attain Vision 2030 flagship status with an eye on the benefits that come with such a tag.

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