Agency hails employment opportunities, valuable skills provided by Chinese firms in Kenya – Kenya Broadcasting Corporation
Watch what’s live now on KBC Channel 1 and our other TV Stations. Never miss new episodes from your favorite shows, reruns and movies. Stream online for free today.
The record-high number of Chinese companies operating in Kenya has had a positive impact on the country’s economic agenda, the Kenya Investment Authority has said.
The state agency notes that Chinese enterprises are increasingly paying attention to creating jobs and accelerating technology transfer to cultivate more local talent.
“Statistics showed that more than 50,000 jobs were created in 2018. Training programs in colleges, universities, and schools, covering 10 professional skills, such as mechanical processing, electronic and electrical engineering, automobile maintenance, and agricultural products processing have also been provided by Chinese enterprises,” said Olivia Rachier, the Ag. Managing Director, Kenya Investment Authority.
Speaking during the launch of a social responsibility report by Chinese enterprises in Kenya, Ms. Rachier noted that the robust Kenya-China Cooperation has seen unprecedented growth in the number of Chinese companies setting shop in the East African country. McKinsey puts this number at more than 400 firms.
“I laud the Chinese companies for integrating CSR into their day-day activities and the Chinese government for ensuring compliance with international standards as set by the WTO,”
“I urge all companies, small and large, to view CSR, not as an imposition, but rather, as a way of creating a more sustainable future.” She said
Ms. Rachier said Kenya has received tremendous support from Chinese companies especially in the 20 years since the establishment of the Kenya China Economic and Trade Association (KCETA). Rachier says the economic and trade relations between Nairobi and Beijing have been growing in leaps and bounds.
She said Chinese companies have made landmark investments in Kenya many of which have headquartered their Africa operations in Nairobi.
These enterprises, according to Ms. Rachier have pumped millions of dollars towards building community roads and water infrastructure, supporting education, and improving the living conditions of local residents.
“This is proof of great economic cooperation and contribution of Chinese companies towards the acceleration of Kenya’s economic and social development, and to the promotion of technology transfer and local employment.” She said
The KenInvest boss further noted that with the rapid development of China-Kenya cooperation in trade and economy in recent years, China has become the largest trading partner, the largest creditor, and the main source of contractors for Kenya.
In recent years, Kenya has ranked among the top two in the list of target recipients of investment from China, she said
While reiterating that Kenya has enormous opportunities for investment as outlined in President Uhuru Kenyatta’s Big 4 Agenda, Rachier urged Chinese investors to further consider investing in the country by going into joint ventures with Kenyan companies or through Public-Private Partnerships.
“We want to assure you that Kenya is open and safe for business and investment. We have very attractive incentives especially in Export Processing Zones and Special Economic Zones.” She said
She noted that Kenya continuously reviews its investment environment to ensure that businesses in the country maximize their return on investment, and make the location desirable for potential investors.
And that’s not all, Rachier disclosed that Kenya has also modernized and simplified various legislations to make the economy more business-friendly. The Ease of Doing Business 2019, she noted, ranked Kenya 56 out of 139 Countries up from 80 in 2016, and that ‘it is our desire to be top 50 by the year 2022.’
Watch what’s live now on KBC Channel 1 and our other TV Stations. Never miss new episodes from your favorite shows, reruns and movies. Stream online for free today.
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More
