Liberalising our economy in order to be globally competitive.

  

Date Posted: 9/30/2012 4:37:40 AM

Posted By: Joemakeit  Membership Level: Gold  Total Points: 2907

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To begin with,allow me ladies and gentlemen to categorically state that we are a sleeping giant.Our economy is performing below the expectations and there is a room for improvement.At independence,we were at par with South Korea and better than Singapore economy-wise.Today,these two countries are far ahead of us while we are lagging behind.This therefore calls for measures to address this situation.One of the measures is liberalizing our economy.

Liberalizing an economy refers to a situation where there are fewer government regulations and restrictions in the economy in exchange for greater participation of private entities.This 'opens' up the economy to foreign capital and investments.It actually refers to the removal of 'controls' to encourage healthy competition and therefore economic development.Success goes to a country that is swift to adapt,slow in complaining,open and willing to change.

By liberalizing our economy,our country will be globally competitive,attract both domestic and foreign investors.This will be a big plus to the citizens.When the investors invest in our economy,more job opportunities will be created and thus reduce the rate of unemployment.More investments means there will be more companies and thus healthy competition.Healthy competition will lead to decline in the prices of goods and services.Reduction of unemployment rates will reduce incidences of crimes and drug addiction and thus a stable and vibrant economy.Let's embrace market liberalization for a better Kenya.

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