Home NEWS Local News Kenya, China sign business deals worth Ksh 63 billion

Kenya, China sign business deals worth Ksh 63 billion

Kenya and China have signed business deals covering ICT, health and engineering sectors worth Ksh 63 billion.

The business deals, which were signed by the Kenya Chamber of Commerce and Industry and its China counterpart are part of efforts to intensify trade between the two countries.

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Speaking in Beijing, China during the signing ceremony, Kenya Chamber of Commerce and Industry President Dr Eric Rutto and his China counterpart Chen CongCong emphasized the need to promote trade for the mutual benefit of the citizens of the nations.

ConCong expressed concern that there was a trade imbalance between Kenya and China, saying efforts must be made to correct the situation.

“There is need to build a common marketing platform to address the concerns of business people operating in the two countries,” said CongCong.

Ruto on his part said Kenya has established a permanent representation office in China to protect Kenya’s investments.

“Kenya has also intensified efforts to export the country‚Äôs agricultural products to China including coffee, macadamia and honey among others as part of efforts to promote trade between our two nations,” said Ruto.

Chinese investors willing to invest in Konza Technopolis include; Inner Mongolia Mingxu Electric Power Engineering, Dongfeng Venucia Automobile  Guangdong Qiya Exhibition, Gaochuang Import and Export and Zhende Medical Company among others.

Kenya-China Chamber of Commerce and Industry said it has established three pavilions to market Kenya in Guangzhou, Shenzhen and Wuhan.

President William Ruto who attended the Kenya- China investment meeting said his Government has created a conducive environment for business to thrive.

“The reason why Kenya is ideal for business is because we have a big market, investments are protected, we are a democratic country and our people are hardworking, thus the availability of great human resource,” said President Ruto.

He said Kenya has launched the next phase of its socio-economic transformation, which shall be driven by trade and investment.

President Ruto said the business deals show profound faith in the dynamic Kenya-China Strategic Comprehensive Partnership.

He said the move also exhibits tremendous confidence in Kenya’s Bottom-Up Economic Transformation Agenda (BETA).

“Opportunities in Kenya are about to multiply exponentially. This is why I ask investors to take advantage of our commitment to ensure a conducive environment for investments,” said President Ruto.

He said he was delighted that 11 companies have launched the Konza Medical City and were ready to take advantage of the Universal Health Coverage.

“I welcome more companies to take advantage of the emerging opportunities in Kenya, East Africa and Africa by taking the first step into Kenya,” said President Ruto.

He lauded the companies which have also decided to invest and do business with, or in Kenya, for taking a stand for friendship, cooperation and transformation.

“On behalf of the government of Kenya, I assure you of all the support and facilitation you may require to get up and moving as quickly as possible,” said President Ruto.

Investment PS Abubakar Abubakar said Kenya is ready and secure for investments.

“Kenya aims to position our country as a preferred destination for investment in Africa,” said Abubakar.

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