Kenya to conduct road shows in China to boost investments inflows

Source: Xinhua| 2019-02-04 22:32:11|Editor: Mu Xuequan
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NAIROBI, Feb. 4 (Xinhua) -- Kenya plans to conduct roadshows in China to boost investment inflows into the country, officials said on Monday.

Moses Ikiara, managing director at the Kenya Investment Authority (KenInvest), told Xinhua in Nairobi that a team of public and private sector officials will visit three provinces in China in March.

"The aim is to woo Chinese investors to set up operations in Kenya in the manufacturing sectors, especially in the textile, construction, agribusiness and leather industries," Ikiara said.

Ikiara said 40 Chinese companies have expressed interest in investing in Kenya as a result of the country's participation in the China International Import Expo that took place in November 2018.

"We are now doing a following-up to ensure that the Chinese investors commence operations in Kenya as soon as possible," he said.

China is among the top 10 sources of foreign direct investment in Kenya, Ikiara said.

"Looking at the pace of new Chinese projects, we expect China to become one of the leading investors in Kenya in the next five years," he said.

According to the managing director, Kenya is banking on new investments to expand local production and cut reliance on imports.