Kenya woos Chinese investors into special economic zones (industrial parks)
Kenya calls on Chinese investors to establish manufacturing investments in the industrial parks
Kenya calls on Chinese investors to establish manufacturing investments in the industrial parks.
According to the head of the ministerial delivery unit at the Ministry of Investment, Trade, and Industry, Kenya is eager to entice Chinese businesses to locate in the nation’s industrial parks, special economic zones, and export processing zones.
Kenya will support foreign investors who can participate in the value addition of Kenya’s abundant raw materials, particularly in the agricultural sector, according to Peter Mbae, head of the ministerial delivery unit at the Ministry of Investment, Trade, and Industry, speaking at an investment forum in Nairobi, the capital of Kenya.
“We want Chinese investors to process goods for the domestic, regional as well as the African market,” Mbae said during the Kenya-China foreign direct investment roadmap meeting.
The meeting brought together Chinese and Kenyan investors with a view to identifying investment opportunities in the country.
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According to the Kenya National Bureau of Statistics, China has become the country’s largest trading partner, foreign investor, and project contractor.
Mbae noted that Kenya is currently in the process of establishing industrial and aggregation parks across the country in order to accelerate industrialization.
“China has always been keen to assist Kenya to develop and expand its industrial base,” said Robert Sun, chairman, founder, and president of the American-Chinese CEO Society, adding that Chinese manufacturers are attracted to Kenya because it has a relatively well-developed infrastructure and the skilled workforce needed to produce high-quality products.
Sun said Kenya is also a regional manufacturing hub because it has signed numerous preferential trade agreements across Africa and other continents.
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