The Kenyatta International Convention Center

Kenyan, Chinese investors meet to explore investment opportunities

NAIROBI, Aug. 3 (Xinhua) -- Investors from Kenya and China's Guangdong province held a meeting in Nairobi on Friday to explore investment opportunities to help boost the East Africa nation's development blueprint.

During the meeting, Kenyan officials called on investors from Guangdong to set up business in the country focusing on the government's development blueprint, dubbed the Big Four Agenda, dealing with affordable housing, universal healthcare, manufacturing and food security.

In her opening remarks, Betty Maina, principal secretary for the Ministry of Industry and Trade told a trade forum in Nairobi that the development blueprint will help Kenya to make significant economic development.

"I wish to remind our partners from Guangdong Province that enormous opportunities still exist within the framework of the Big Four Agenda," Maina said during the China (Guangdong)-Kenya Economic and Trade Cooperation Conference.

Maina reiterated the government's commitment to enhance the partnership with Guangdong Province for a win-win arrangement within the Belt and Road Initiative.

Maina said Kenya is particularly excited with the collaboration initiatives with Guangdong Province to enhance Kenya's production capacity.

She noted that Kenya will support China for the success of the Forum on China-Africa Cooperation (FOCAC) scheduled to be held in September 2018.

"We look forward to the renewed measures to be announced during this year's FOCAC," she added.

She observed that China-Kenya relations has been growing over the years such as to date, China is Kenya's largest trading partner and the largest Overseas Development Assistance (ODA) contributor.

Moses Ikiara, managing director of the Kenya Investment Authority (KIA), said Kenya and Guangdong Province have enjoyed a very good relationship in trade and investment.

"Kenya is desirous of emulating Guangdong's development prowess," Ikiara said, noting that Kenya is proud that some companies from Guangdong are already investing in the country.

He added that KIA is committed to not only helping investors from Guangdong find investment opportunities of their interest, find local partners, but also providing best-in-class and friendly pre-and-post- investment facilitation.

Sun Baohong, Chinese Ambassador to Kenya, said both nations signed trade agreement as early as 1978, the very first year when China adopted the reform and opening-up policy.

"In recent years, the level of economic and trade cooperation between our two countries has kept increasing. Now Kenya is China's strategic partner in pushing forward the Belt and Road Initiative and China-Africa industrial capacity cooperation," Sun said.

She noted that because Kenya is a key cooperative partner, China will continue to push forward the integration of the Belt and Road Initiative with Kenya's development strategies such as the Big Four Agenda.

She urged Kenya which is now in its initial stage of industrialization to utilize the high-quality production capacity, large amount of capital, advanced technologies and rich experience boasted by Guangdong, to achieve mutual benefits and win-win cooperation.

Source: Xinhua/Yan

Published: 08/14/18