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Kenya eyes Chinese investments to hasten economic growth: official

Xinhua, September 2, 2016 Adjust font size:

The Kenyan government has intensified efforts to attract Chinese investments in key sectors of the economy like manufacturing, energy, transport, tourism and real estate, a senior official said on Friday.

Speaking during the China (Guangdong)-Kenya Economic and Trade Cooperation Conference in Nairobi, Cabinet Secretary for Labor & East African Community Affairs Phyllis Kandie said Kenya is open to Chinese investments to hasten economic and social renewal in line with Vision 2030 blue print.

"As we embark on implementation of Vision 2030 to transform Kenya into a middle-income economy, investments from China will be critical to achieve this goal," Kandie said.

Governor of Guangdong Province Zhu Xiaodan, Chinese Ambassador to Kenya Liu Xianfa and some 200 business executives from China and Kenya attended the meeting.

The meeting culminated in signing of agreements between Guangdong and Kenyan business entities to enhance future collaboration.

Kandie said Kenya was honored to host the largest delegation of Chinese investors in recent history.

"China is Kenya's largest trading partner and source of foreign direct investments. We look forward to vigorous discussions with Chinese investors on opportunities in tourism, mining, ICT, real estate and manufacturing sectors," said Kandie.

Kandie said joint ventures between Chinese and Kenyan firms will also be critical to develop the nascent oil and gas sector in the country. Endit