Chinese investors urged to support public-private partnerships in KenyaAugust 7, 2019
NAIROBI, Kenya, Aug 7- The Kenya National Chamber of Commerce and Industry has called on Chinese investors to visit Kenya and invest in the country through the Public-Private Partnership that supports the government’s initiatives.
Kenya National Chamber of Commerce and Industry President Richard Ngatia said the government has already identified a potential area in the country that need the public-private partnership initiative.
“I urge the local and International investors to take advantage of the investment opportunities that Kenya present to promote economic growth, employment creation, poverty eradication, and sustainable development,” he said.
His sentiments come during the ongoing visit by ten companies some under the Hong Kong Trade Development Council.
Ngatia encouraged private investors from Hong Kong to visit Kenya and invest through a public-private partnership initiative that the government of Kenya offers.
“Kenya has tailor-made services for investors such as Industrial parks targeting the domestic market, Export Processing Zones targeting export market, Special Economic Zones targeting both the domestic and export market. The private investors from Hong Kong are encouraged to visit Kenya and invest through public-private partnership initiative that the government of Kenya offers,” he said.
Regional director for Africa and the Middle East Hong Kong Trade and Development Council Daniel Lam also said there has been an increased boost in trade between the two companies.
“Trade between Kenya and Hong Kong has grown by 16 percent and exports ratings have risen by 12 percent respectively,” he said.
Currently, the Standard Gauge Railway (SGR) remains the largest Chinese project in Kenya where China recognizes the important strategic location Kenya has and SGR will help Kenya be the lead logistics hub.
Majorly, Kenya exports ores and concentrates of molybdenum, skin leather, edible nuts, precious stones, electrical apparatus, cut flowers and foliage to Hong Kong and on the other hand imports electrical equipment, coloring preparations, transmission apparatus, mall-wares and toilet articles from Hong Kong.