Corporates Kenya

Kenya, Toyota Tsusho strike deal on key motor areas

Cabinet Secretary in the Ministry of Investment, Trade and Industry The Hon CS Rebecca Miano, MBS has urged investors from the Japan-based Toyota Tsusho corporation to scale up manufacturing of spare parts in Kenya.
This as the Hon. CS signed far-reaching agreements with Japanese vehicle manufacture that will see the firms expand local markets.
The CS challenged the firm to leverage on Kenya’s strategic partnerships to scale up local manufacturing of components for the company β€˜assembling facility in Kenya.
‘It is an opportune time that the Japanese conglomerate worked with Kenyan counterparts to develop the requisite capacity for the Kenyan-based facility’s enhanced operations, targeting the greater African Market under the Africa Continental Free Trade Agreement (AfCFTA), among other markets.,” the CS said.
The CS made the remarks during a meeting with top management of the Toyota Tsusho Corporation, which was held on the side-lines of the G7 Session of Trade Ministers meeting held, in Sakai, Osaka, Japan.
During the meeting, a National Automotive policy was agreed on between the Government of Kenya and the automotive industry stakeholders to provide for making Kenya the destination of choice for the Industry.
However, in the light of emerging industry trends, as highlighted by the Toyota Tshusho management, it was agreed that the ongoing development of the automotive bill and regulations therein also be done in close consultation with the Industry stakeholders.
The meeting noted with encouragement that Kenya has made milestones as an automotive assembly hub for the African region, supported by well skilled man power and the availability of assembling facilities.
It was resolved that the Corporation continue to work with Ministry of Investments, Trade and Industry to further its business interests in the African region and for the mutual benefit of the people of Kenya and Japan.
The meeting resolved that the finalisation of the automotive bill and automotive regulations will be expedited in collaboration with the Industry stakeholders.
The bill and regulations will provide for End of Life Vehicle (ELV)recycling for both used cars and batteries, thus helping to raid the country of an otherwise growing menace of wastes.

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