President William Ruto has secured KSh107 billion in investment pledges from seven Chinese companies during his state visit to China. The deals were signed at the Kenya-China Business Forum held in Beijing on Wednesday.
The investments will support various sectors including manufacturing, agriculture, tourism, and technology.
Among the top deals is a KSh19.5 billion Special Economic Zone in Kilifi by China Wuyi, expected to create over 5,000 jobs.
In Kajiado, two firms pledged KSh2.6 billion for textile and solar power factories, while Rongtai Steel Limited will set up a KSh19.5 billion steel plant in Lukenya to support housing projects.
Agriculture also got a boost with a KSh3.9 billion egg farm in Kajiado, and a biotech firm committed KSh52 billion for aloe vera and grape farming in Baringo.
Huatian Hotel Group plans to invest KSh39 billion in Nairobi’s hospitality sector, and two companies will set up a KSh6.5 billion smart tech factory in Murang’a.
“Kenya is open for business,” said Ruto. “You have every reason to invest here.”
The president also witnessed the signing of strategic agreements aimed at boosting e-commerce and trade between Kenya and China.
