Industrial expo focuses on manufacturing, automation
The Afripeak Expo Limited in partnership with Kenya Investment Authority (KIV) and Kenya National Chambers of Commerce and Industry (KNCCI) will this year focus on manufacturing and automation among other related sectors for companies interested in exhibiting at this year’s exhibition.
The past few decades have seen drastic changes in the manufacturing landscape. The advent of smart computers and technology have rendered automation an essential element in gaining a competitive advantage in today’s local and global manufacturing environment.
According to the organizers of the expo themed “Trade Prosperity amid COVID-19 Pandemic,” the three-day event will be held virtually following the advent of the pandemic that has ravaged the global economy and the need to reshape economic strategies.
“For the first time ever in Africa, the Kenya International Industrial Expo 2020 event will have a combination of Virtual and physical Expo. This ‘new look / Hybrid expo’ was innovated following the Covid-19 restrictions set by governments to curb the spread of the deadly virus. The Chinese exhibitors will have their local representatives being present at their various exhibition stands at the expo at Sarit Expo Centre. This kind of arrangement will enable visitors to physically see the exhibits and interact with Chinese companies’ representatives as well as connect via virtual links for business deals negotiations,” said Gao Wei, Managing Director, Afripeak Expo Kenya Limited.
The expo is slated for November 26 to November 28 and this year’s exhibition has attracted more and high-level foreign exhibitors to display in the expo.
The exhibition space has doubled from 3200 m2 to 4000 m2, the standard shell schemes increased from 83 to 105 stands and the foreign exhibitor’s quantity has increased from last year 81 to 93.
According to Dr Moses Ikiara, Managing Director, Kenya Investment Authority the expo comes at a time when the country is scaling up its manufacturing sector who also said yesterday that Kenya would increase the number of SEZs by attracting investment into those zones.
Enterprises at the SEZs enjoy several tax incentives under a tightly monitored set-up to avoid losses of government revenue.
The preferential tax terms include value added tax (VAT) exemption on all supplies of goods and services to enterprises, reduction in corporate tax to 10 per cent from 30 per cent for a period of 10 years of operation and 15 per cent for a period of 10 years.
Such cuts are meant to help investors cut down on key cost drivers such as transport, with the hope that surplus funds would go towards value addition.