Convened by the Kenya National Chamber of Commerce and Industry (KNCCI), the forum discussed collaboration in key sectors like manufacturing, clean energy, healthcare, tourism, mining and information and communications technology.
The one-day forum was held under the theme of “Promoting friendly cooperation and promoting common prosperity” and underscored the need to strengthen Sino-Kenyan economic cooperation in line with the Belt and Road Initiative.
Participants called for the creation of a platform for fostering knowledge sharing and technology transfer among Chinese and Kenyan investors in order to realize mutual socioeconomic benefits.
Abubakar Hassan Abubakar, the principal secretary of the State Department for Investment Promotion, said that Kenya was keen to leverage increased trade with China in order to accelerate economic progress.
“Kenya is open for business and deepening trade and investment cooperation with China will unlock shared prosperity,” Abubakar said, adding that the government has removed regulatory barriers to facilitate Chinese investments in manufacturing, financial services, agriculture and tourism sectors.
During the forum, memoranda of understanding were signed between the KNCCI and China Council for Promotion of International Trade Jiangxi Provincial Committee.
Other entities that inked cooperation deals include China’s Zhongmei Engineering Group Limited and Kisyet Tea Limited, based in the northwestern Kenyan county of Bomet, China Jiangxi International Economic and Technical Cooperation Co. Limited and Kenyatta University.
Ren Zhufeng, the executive vice governor of East China’s Jiangxi Provincial Government, said that injecting vitality into economic and trade ties with Kenya was imperative in order to achieve shared prosperity.
According to Ren, investors from China’s Jiangxi province were ready to enlarge their footprint in Kenya, targeting high-impact sectors including transport infrastructure, energy and mining.
Eric Rutto, KNCCI president, said that a growing number of Chinese firms were exploring trade and investment opportunities in Kenya, lured by a stable macroeconomic environment and friendly regulations.
He disclosed that approximately 80 companies from Jiangxi Province had pitched tents in Kenya and were keen to venture into infrastructure development, technology and manufacturing sectors.
Zhang Mingfeng, the president of Jiangxi Geo-Engineering Investment Group Limited, said that Chinese firms are keen to expand their presence in Kenya and boost post-pandemic economic recovery in the East African country.
