Chinese investments to Kenya hit Ksh 660B

Chinese investments and commitments to the country under the Jubilee Government have reached Ksh 663 billion, Foreign Minister, Wang Yi, has said.

Mr. Wang said the Chinese investments and commitments to Kenya in the last three years were mainly in infrastructure and the establishment of industrial parks in Kisumu, Mombasa and Nairobi.

“It is our hope that mega projects like the Standard Gauge Railway (SGR) will leverage Kenya’s position as a regional trade and investment hub,” Mr. Wang said.

The Chinese Foreign Minister said he was pleased that the SGR has created over 40,000 jobs for Kenyans, adding that more economic benefits including the promotion of businesses along the railway line will be realized with the completion of the first phase of the project next year.

Mr. Wang spoke Wednesday during a meeting with President Uhuru Kenyatta at State House, Nairobi.

He said China views Kenya as an important link in Africa and expressed optimism that the economic and political cooperation between the two countries will help Kenya achieve its Vision 2030 targets.

President Kenyatta welcomed the increasing partnership between Kenya and China, saying it was playing a big role in helping Kenya achieve its socio-economic agenda to improve the welfare of Kenyans.

The President said SGR is an important project that will not only benefit Kenya but also open up the whole of East and Central Africa region for trade and investment.

“As a country, we play a pivotal role in opening up the region. We welcome the win-win partnership we have with China, especially in these infrastructure projects,” President Kenyatta said.