Kenya Brings in Chinese Firm to Build Nation's First Special Economic Zone
Xu Wei
DATE:  Jul 17 2017
/ SOURCE:  Yicai
Kenya Brings in Chinese Firm to Build Nation's First Special Economic Zone Kenya Brings in Chinese Firm to Build Nation's First Special Economic Zone

(Yicai Global) July 17 -- The construction of Kenya's Africa Economic Zone Pearl River is a landmark event that will boost economic growth across the country, Vice President William Ruto said at the groundbreaking ceremony.

The special economic zone, Kenya's first, will be built by China's Guangdong New South Group Co. and African Special Economic Zone Ltd., which is under Kenya's DL Group of Companies Ltd. The groundbreaking ceremony was held on July 7, state-owned news agency Xinhua reported yesterday.

According to plans, the zone will focus on developing technology, furniture, textiles, machinery, construction and agricultural product processing in a bid to drive Chinese companies into Kenya and generate investment.

The economic zone's connection to China was somewhat accidental, but inevitable, Liu Yanmei, chief representative of the Guangdong Provincial Economic and Trade office in Kenya, said. "Kenya needs to develop its industries," he added, "and there are so many small- to medium-sized enterprises in China that urgently need to set up capacity agreements overseas, it meets the needs of both parties."

Kenya's President Uhuru Kenyatta previously said the country plans to invite more Chinese companies over in order to boost employment in the region.

China's reform and opening up has given it a rich experience in industrialization, Ruto said at the groundbreaking ceremony. The cooperation will help Kenya learn from this and promote its own industrialization, he added.

Dave Lagat, director of the DL Group, is also optimistic about the future of the economic zone. "I will build Kenya's first special economic zone in Eldoret with Chinese friends, and bring 40,000 jobs to the people here," he said. "This will not only change the city, but the whole of Kenya."

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Keywords:   Kenya,Investment,BELT AND ROAD