Home / Knowledge / News / Textiles / Kenya seeks Chinese investments
Kenya seeks Chinese investments
28
Mar '16

Kenya has called on visiting Chinese investors to make big ticket investments in various key sectors including agro processing, textiles and leather among other sectors that build on its comparative advantages.

In a statement, Kenya's Industrialization Cabinet Secretary Adan Mohamed said the country has created a favourable and enabling environment to attract investment locally, regionally and globally.

He urged Chinese investors 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, he added.

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 the labour costs are relatively cheaper compared to manufacturing in Asia. The Secretary stressed that Kenya's preferential access to global markets had created a cost advantage to buyers in pursuit of a diversified sourcing base.

"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 you could consider," Mohamed said in the statement after the meeting in Nairobi.

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 between $200 million to $2 billion dollars.

Mohamed told 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.

The Secretary said there were tax incentives for export-based industries which could enjoy specific tax holidays.

Mohamed told the Chinese delegation Kenya was also seeking duty free access for its products in the Chinese market which would improve trade ties between the countries.(SH)

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 10th Dec 2016

India’s 2016-17 cotton import to touch 17 lakh bales

The import of cotton from international markets by spinning mills in...

Textiles | On 10th Dec 2016

US textile & apparel imports fall 6.50% in Jan-Oct ’16

The import of textiles and apparel by United States dropped 6.50 per...

Textiles | On 10th Dec 2016

Indian textile hubs adopt cashless payment modes

The textile ministry is promoting cashless payment within the...

Interviews View All

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search