Africa-Press – Kenya. President William Ruto has said Kenya is open for business as the country undergoes rapid transformation under its Vision 2030 agenda. Speaking at Peking University in Beijing in China, the President said the development agenda forms part of the fourth Medium-Term Plan, focused on five key pillars.
“These are agricultural transformation, universal health coverage, affordable housing, the digital and creative economy, and development and expansion of micro, small and medium enterprises,” Ruto said.
President Ruto noted the significance of the diplomatic and economic ties between Kenya and China, which have spanned six decades. “As we mark six decades of diplomatic and economic cooperation between Kenya and China, my current visit seeks to chart a new course towards mutual prosperity,” he said.
The President emphasised Kenya’s commitment to strengthening its infrastructure through strategic partnerships. “We are seeking strategic partnerships to expand our infrastructure, including transport, energy, logistics, and urban development,” Ruto stated.
The President is in China for a four-day visit. It is the third time he has visited the country since he took power. Ruto commenced his tour in Beijing, China, on Wednesday by witnessing the signing of investment deals worth Sh107 billion by seven Chinese firms.
The companies, spanning various sectors which include manufacturing, agriculture, tourism, and technology, are set to inject the much-needed capital to significantly boost youth employment and accelerate economic growth.
The agreements were signed during the Kenya-China business forum organised by the Ministry of Trade in partnership with KenInvest Authority and the Chinese government.
Leading the commitments is China Wuyi, which will invest Sh19.5 billion to establish a special economic zone (SEZ) on a 191-acre land in Kilifi’s Kikambala area. The company is leveraging government incentives to SEZs for both public and private zones. The project is expected to generate over 5,000 jobs.
Penfeng Investment Limited and Shangcheng Apparel Group will allocate Sh2.6 billion to build warehouses for textile, garment, and solar power factories in Kajiado.
Rongtai Steel Limited, on its part, plans to spend Sh19.5 billion on steel production factory in Lukenya to meet the rising demand from the affordable housing program.
The company is set to create 700 new jobs. Agricultural ventures feature prominently, with Shandong Jialejia Agriculture committing Sh3.9 billion to a 500,000-hen egg farm in Kajiado. The company is capitalising on Kenya’s zero-rated import policy for hatchery eggs.
For More News And Analysis About Kenya Follow Africa-Press
