1. Reducing the value of imports and increasing imports (Thus favouring a surplus balance of trade and encouraging local and infant industries. This can in turn favour currency devaluation and reduce cost of goods and services)
2. Diversifying Agriculture, Manufacturing and Processing industries. Agriculture remains the core backbone of Kenya’s economy accounting upto one third of it’s nominal GDP. Kenya should favour favourable working conditions, government subsidies and innovation programs in diversified Agriculture
3. Employment. Over 4.5 Million Youths in Kenya (35%) are unemployment. The reason for unemployment is become we don’t have sufficient opportunities in the country, and many old employees refuse to retire early in the public sector. The government should lower retirement age to 50, diversify her Manufacturing, Agricultural and Processing sectors, creating enough gaps for 5 million new job market entrants. Innovation and Manufacturing are key incentives for any economic growth agenda
4. Technological Advancement. Fostering innovation and invention can scale up smart cities in Kenya, and develop and equip more cities and SEZs in addition to Konza Technopolis, Tatu smart city and upcoming Northlands city.
5. Accumulation of capital stock. Major on funding every important sector, cutting across costs and sacking all corrupt officials. Kenya is a country that collects upto ksh 1.7 Trillion annually in revenue, but ends up borrowing even more and wasting the money is non existent projects. Officials in select sectors should be self driven and in serving for our future goals and development. Otherwise Kenya economy will collapse and we might not realize vision 2030
6. Urbanization. Encourage growth of towns, expansion, tourism, and leisure parks. Modern skyscrapers with over 70 floors should also be approved to encourage growth of world class cities in the country
7. Finally other considerations include tax cuts and rebates, employee motivation and job promotions, deregulation rules and infrastructure spending such as schools,hospitals, transport and housing.
We can realize triple GDP if we want. Kenya ranks 7th in Africa, yet it has the potential to become the Best in Africa and beat countries such as Egypt and Nigeria
Peoplesmind
