Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


Kenya woos Chinese investors

10 October 2014, 09:32

Nairobi - The government has called on more Chinese investors to set up their business in the country, Cabinet Secretary for East African Affairs, Commerce and Tourism, Phyllis Kandie said during the ground breaking ceremony for a Chinese firm's headquarters in Nairobi late Wednesday.

Speaking at the ceremony, Kandie lauded the Chinese firm, AVIC International, for establishing its Africa headquarters in Nairobi.

"I want to thank AVIC International for choosing Kenya as their continental home and I assure that you have made the right choice, " Kandie said. "I am particularly pleased to welcome you to the hotel industry in Kenya. You have picked the right business as we have a shortfall in our national bed capacity and this investment will help us reduce the deficit," she said.

"We are not here to break ground on construction of a hotel and headquarters alone, we are also here to break new ground in employment and access to opportunities for thousands of Kenyans and their families," Kandie added.

Chinese Ambassador to Kenya Liu Xianfa said many Chinese companies are establishing their headquarters in Nairobi owing to the country's geographical location and favorable economic climate that prevails.

"Star Times, China Daily and Xinhua News Agency are some of the Chinese establishments that have opted to make Kenya the centers of their respective bureaus," Liu said.

Also read: Investors says NO to referendum talk

AVIC International chairman, Wu Guangquan, said the company's engagement in the African market remains key to its global business strategy, adding that the company is looking beyond mere commercial interests.

"We stay committed to the bilateral economic exchanges and cooperation between China and Africa. By providing Africa with state-of-the-art aviation products, complete sets of equipment and medical facilities, and training large groups of local professionals, we have contributed our share to the local economic and social development, which we are quite proud of," Wu said.

Wu said in an effort to scale up engagement and investment in Africa, the company has taken the decision to establish its Africa headquarters in Kenya, which he described as a major player in the region that is known for its enabling investment environment and favorable geographical location.

AVIC International was founded in 1979 and over the past 35 years, the company has made remarkable strides in many of its wide- ranging business areas, such as international aviation, trade and logistics, retail and high-end consumer goods, real estate and hotel management, high-tech electronics and resource development, with an overall portfolio of over 26 billion U.S dollars.

With more than 100 branches in over 50 countries and regions, the company employs over 70,000 staff who serve customers in more than 180 countries and regions, including 15 African countries. In Kenya alone, there are six subsidiaries that have employed more than 3,000 local workers.

Han Chunlin, Chinese Economic and Commercial Counselor in Kenya, said bilateral exchanges and cooperation between China and Kenya, especially in the areas of trade, infrastructure, energy, communications, tourism, have greatly improved.

"Trade in goods has maintained a fast and stable growth in recent years. According to Chinese Customs, the bilateral trade reached 3.27 billion dollars in 2013, with the growth rate of 15.3 percent," Han said.

"In addition, under the severe international economic situation, the bilateral trade from this January to August has reached 2.87 billion dollars, which is an increase of 41.1 percent," he said.

He said Kenya's strategic location has made the country to become more attractive to Chinese multinational companies which in recent years has witnessed an all-round, fast and in-depth development of China-Kenya relations.

"Chinese companies enjoy the friendship between the two countries and are confident on the economic future of this country. I believe that is why AVIC-International preferred to establish its headquarter here in Nairobi," Han said.

Nairobi Governor, Evans Kidero, said China plays an important role in the lives of Kenya and Africa as a whole.

"There is no country in Africa that can claim not to have been touched by Chinese influence. The complex, when complete, will add to the skyline of Nairobi," Kidero said.

 - Xinhua

For the latest on national news, politics, sport, entertainment and more follow us on Twitter and like our Facebook page!


Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Submitted by
Wilson Ochieng
Apologise for attack on Auditor G...

Apologise for attack on Auditor General, President Uhuru Kenyatta is told by Kisumu Senator Anyang Nyong'o. Read more...

Submitted by
Wilson Ochieng
Quit if you can't fight corruptio...

An MP has told President Uhuru Kenyatta to quit office if he cannot fight corruption. Read more...

Submitted by
Wilson Ochieng
Investigate Uhuru, Ruto for corru...

Investigate President Uhuru Kenyatta and DP William Ruto's offices over corruption, CORD leader Raila Odinga has said. Read more...

Submitted by
Victor Tinto
Its a 1 horse race to State House...

Its a 1 horse race to State House, DP William Ruto has mocked the CORD Coalition. Read more...

Submitted by
Victor Tinto
Enjoy your time left in power, We...

CORD Co Principal Moses Wetangu'la has told the Jubilee Coalition to enjoy its last few months in power before it is voted out in the 2017 elections. Read more...

Submitted by
Victor Tinto
Stop hiding in State House and sa...

ODM MP's have called on President Uhuru Kenyatta to release drought aid and to stop sitting on public funds. Read more...