Six Key Sectors to Drive Vision2030 Policy Plan
The National Economic and Social Council will identify six key growth sectors that will play a major role in transforming Kenya into a medium income country by the year 2030.
The council's acting director, Dr Wahome Gakuru, says the sectors will be selected based on their current size and growth potential, their level of competitiveness and their interdependence with other sectors.
According to Gakuru, Kenyans may know the targeted sectors two weeks after the council meeting set for Naivasha next weekend.
The sectors will be assessed based on their contribution to the country's GDP. Based on this criteria, sectors likely to feature prominently include tourism, manufacturing, telecommunications, service sector and infrastructure.
These have been key drivers of the economy over the last four years since the Economic Recovery Strategy was launched.
The ambitious Vision 2030, unveiled in October last year, targets an annual economic growth rate of 10 per cent for the next 25 years.
The envisaged growth is expected to increase Kenya's Gross Domestic Product (GDP) by $153.4 billion (Sh10,738 billion) to $169 billion (Sh11,830 billion) in 2030.
By launching vision 2030, Kenya is borrowing a leaf from other countries that have developed country visions with remarkable success.
For instance, Malaysia is already an industrialised country 15 years earlier than it targeted in its Vision 2020.
The six key growth sectors compares favourably with Malaysia's six key initiatives it identified in achieving its vision.
South Africa's programme of action, which aimed to achieve higher rates of economic growth and development, improve quality of life and consolidate social cohesion has also achieved its objectives.
Other success stories include Singapore, Nigeria, India, China and Russia.
Although they were in the same economic league in the early 70's, Kenya currently compares poorly with the middle-income countries such as Malaysia, Indonesia and Thailand.
The Vision 2030 is therefore expected to consolidate the economic gains made under the ERS.
The economic growth has surged from a low of one per cent in 2002 to a high of 5.8 per cent in 2005.
Telecommunications sector has also grown dramatically. Mobile subscription grew by 57 per cent with some 400 million Short Text Messages (SMS) being exchanged by Kenyans in 2005.