The China Media Group (CMG) sponsored an investment workshop for business and industry stakeholders in the Special Economic Zones to enlighten them about investment opportunities presented by China’s Economic Development for African Countries proposition.
Speaking during the event held at a hotel in Nairobi, Director of CMG Nairobi Studio, Zahra Du commended their partnership with the Kenya Broadcasting Cooperation (KBC) which has enabled CGTN-Kiswahili to run its operations seamlessly across the nation.
Zahra Du said CGTN airs various development programs, especially on how the use of modern technology can improve African agricultural production which China presents a ready market for.
She stated that the role of CGTN, which broadcasts in over 80 languages globally, and specifically in Kiswahili, is to inform the entire world about China’s ecosystem.
Zahra Du reiterated that the government of China encourages Chinese companies and developers to invest in Kenya and other African nations to improve infrastructure development and cited the Standard Gauge Railways (SGR) and the operations of the China Roads and Bridges Corporation Kenya as notable torch bearers.
Zahra Du commended the government of Kenya for creating a conducive business environment that will attract investors from China and other developed countries to invest in Kenya which will in turn spur economic growth and expand employment opportunities for her citizens.
Country Manager, GS Textile Industries Kenya EPZ Limited, Luo Jun noted that through partnerships, Chinese investors can contribute to Kenya’s economy through the transfer of industrial skills, management experience, and build local person to set up their own business,” Jun expressed.
Chief Executive Officer (CEO), Export Processing Zone Authority (EPZA), Richard Omelu said in a speech delivered on his behalf by the General Manager, Operations and Investors Support, Alice Atogo assured that EPZA promotes and facilitates foreign-oriented investments which means that at the EPZA, one is expected to maximize on sales.
“If you invest in the EPZA, you’ll enjoy a 10-year tax holiday, followed by a 25 per cent corporate tax for the next decade. After that, you’ll be subject to the standard 30 per cent tax rate. Additionally, we offer a 10-year withholding tax exemption on foreign remittances,” stated Omelu.
Special Economic Zone Authority (SEZA) CEO, Dr. Kenneth Chelule, championed the adoption of green energy from Chinese technology which is in line with Kenya’s dream of curbing global warming challenges, having said this in a statement read on his behalf by Director Business Development Services, Victor Magero.
Meanwhile Kenya Investment Authority (KenInvest) CEO John Mwendwa said in a statement delivered on his behalf by the General Manager, Investment Promotions, Nixon Rotich that KenInvest is charged with the mandate to facilitate all investors without discrimination to get opportunities.
The Vice-Chairman, Kenya-China Alumni, President of Beijing Jiaotong University Alumni, Joseph Maritim urged Chinese investors and other foreign businessmen to consider Kenya because of its stable economy, young and trainable workforce, and a leader in Africa’s transition, logistics and innovation, incentives, which places Kenya as a gateway to Africa.
University of Nairobi’s Department of Diplomacy and International Studies’ director Africa Centre for the Study of China, Professor Patrick Maluki urged stakeholders to seize the opportunity by fostering strong partnerships, enhancing policy coordination, and implementing actionable strategies that drive mutual prosperity.
“The future of Africa-China economic cooperation is promising, but it requires vision, negotiation, and collaboration to ensure mutually beneficial growth,” he stated.
By Clinton Ng’iela
