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

Courtesy: Li & Fung

Textiles | On 24th Mar 2017

Li & Fung forms new supply chain partnership with PVH Corp

Li & Fung Limited, the world's leader in consumer goods design,...

Courtesy: Alizilla

Apparel/Garments | On 24th Mar 2017

Alibaba's eWTP finds first overseas base in Malaysia

In a step towards using the internet to bring small businesses around ...

Textiles | On 24th Mar 2017

BJMC to produce cotton-jute blended denim fabrics

To meet demand from the market, Bangladesh Jute Mills Corporation...

Interviews View All

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Suresh Patel
Sidwin Fabric

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

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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

news category


Related Categories:
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search