President Kenyatta urges China, Kenya policy to grow jobs

BEIJING

President Kenyatta has urged Kenyan and Chinese businesspeople to adopt strategies that will boost the economy and grow jobs in the two countries.

The President said as Kenya and China move towards strengthened bilateral ties, business should exploit the benefits on the basis of respect and reciprocity. This would bridge the balance of trade presently tilted in favour of China.

"This is the win-win dynamic that underpins our countries’ bilateral relations. It is the only way by which mutual interests are secured and prosperity guaranteed,” President Kenyatta told an investment forum of Chinese and Kenyan businessmen in the Beijing on the third day of his State visit to the world's second largest economy.

More than 80 Kenyan and 50 Chinese companies were represented at the forum to showcase areas of investment in Kenya.

Several Governors, including Evans Kidero of Nairobi and Kenneth Lusaka (Bungoma) made presentations on investment opportunities in their counties.

President Kenyatta used his speech to underline the Jubilee Government’s “East” policy, saying Kenya was keen to do business within the context of the Indian Ocean RIM.

This means improving trade and business links with oil-rich Russia, Ukraine and Kazakhstan, drawing from the fertiliser industries in Belarus to improve agri-business and tapping into manufacturing prowess of South Korea to grow Kenya’s jobs and raise prosperity.

MUTUAL BENEFIT

President Kenyatta detailed how Chinese businesses would tap into investment opportunities in the East African community, leveraging on the bargaining muscle of the BRICS community of Brazil, Russia, India, China and South Africa.

“We are in a space in the history of our world where we offer opportunities for win-win interactions and accelerated development of our country,” he said.

"My visit to China was about deepening bilateral relations and building robust business ties."

"I have come to China so that we can candidly explore opportunities of mutual benefit so that our countries, governments, businesses and citizens can commence the work of sustaining and accelerating growth,” the President said.

President Kenyatta invited Chinese investors to look at government-led projects such as the port, pipeline and road corridor linking Kenya, South Sudan and Ethiopia (LAPSSET), the Konza techno-city near Nairobi, energy and petroleum.

He welcomed the signing of $5 billion (Sh425 billion) in bilateral instruments to facilitate investments in various, large-scale
infrastructure initiatives including energy generation and railway building.

At the forum, the President disclosed his vision of promoting Kenya’s tourism by attracting at least 0.1 of the Chinese population of 1.3 billion to visit Kenya.

Noting that China and Kenya straddled a geography that abounds with opportunity, the President said government had embraced Vision 2030, a strategy that combines bold vision, focus, integrity and dedication, to exploit that opportunity.

SOUND PLANS

"Every national administration is a trustee of this Vision, solemnly bound to fully execute it in order to enhance the prosperity and happiness of its sovereign beneficiaries: the people of Kenya,” President Kenyatta said.

He emphasised that government has laid sound plans to guarantee the success of Kenya’s march to prosperity and international competitiveness.

"Because no resource is infinite nor opportunity eternal, it is our manifest intention to be bold, urgent and relentless in the quest for
development and economic success,” the President said.

Speaking at the forum, China Development Bank (CDB) President Zheng Zhijie pledged his Bank’s continued facilitation of Kenya’s economic and social development by offering comprehensive financial services.

Mr Zheng said his bank would always work towards sustaining a win-win relationship with Kenya. CDB has loaned over $20 billion to Africa. It has also leveraged more than $10 billion investment covering 42 countries, signifying its strong support to China-Africa economic cooperation.

During the occasion, the Kenya National Chamber of Commerce and Industry and its Chinese equivalent signed an MOU, providing for closer cooperation among its members.