Kenya invites Chinese investors to explore big investment opportunites

Kenya having created a favorable and enabling environment to attract investment locally, regionally and globally invites Chinese investors to explore big investment opportunities in various key sectors including textiles, agro processing, leather, construction services and materials, energy, mining and IT related sectors that build on its comparative advantages.

Industrialization Cabinet Secretary Adan Mohamed said that the country is expanding its power supply from 2,500 to 10,000 megawatts and production of the remaining 7,500MW of clean energy is another investment option to consider.

He was addressing the visiting Chinese delegation of investors from the Keda Clean Energy Company of China who are in the country seeking attractive opportunities to invest in between 200 million to 2 billion U.S. dollars.

Mohamed informed the delegation that Kenya has a well-educated, qualified and skilled youthful labor force and access to vast agricultural resources was great potential destination for investment.

There were also tax incentives for export-based industries which could enjoy specific tax holidays.

He encouraged them to consider setting up infrastructure in one of the special economic zones along the Standard Gauge Railway (SGR) from
Mombasa to Nairobi. The government is availing land in these zones for investment.

Mohamed stated that the country also wanted to invest in the textile and leather sectors which are major growth drivers in industrial exports.

He said that the labour costs are relatively cheaper compared to manufacturing in Asia, moreover Kenya’s preferential access to global markets had created a cost advantage to buyers in pursuit of a diversified sourcing base.

Kenya is also seeking duty free access for its products in the Chinese market which would improve trade ties between the countries.