The Standard Group Plc is a
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Standard Group is recognized as a leading multi-media house in Kenya with a key
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CS Adan Mohamed
Industrial capacity cooperation between China and Africa is poised to grow stronger, following the opening of the first China-Africa Industrial Capacity Cooperation Exposition in Nairobi, Kenya.
The three-day expo will provide a platform for overall exchange as well as intensified cooperation between Chinese and African enterprises. This is in addition to encouraging more Chinese businesses to invest in Africa, in efforts to help the continent to accelerate its industrialization process.
The expo is expected to show China’s small and medium-sized enterprises the investment opportunities available in the East African market and encourage the development of trading and business partnerships with local players.
These enterprises are expected to drive the “stage of transformation and upgrading” In the China-Africa industrial capacity cooperation.
According to He Cailong, the head of the Chinese delegation and president of China International Exhibition Center Group Corp, the expo is designed to enhance China-Africa pragmatic cooperation as well as strengthen the continent’s industrial capacity to take advantage of numerous opportunities provided by the Belt and Road Initiative.
He says industrial capacity cooperation will help to speed up the pace of infrastructural improvement in Africa and promote regional economic development. “More employment opportunities will also be created, and the continent will be able to realize sustainable development. The friendship between Africans and Chinese will also be consolidated,” he adds.
Li Xuhang, the charge d’affaires at the Chinese embassy in Kenya, says it is in the best interest of China and other developing countries to strengthen industrial capacity cooperation. African countries are mostly in the early stages of economic takeoff and urgently need large amounts of capital, equipment and technology, which China can provide, Li adds.
Li says the expo will provide a platform for Chinese enterprises looking for business opportunities in Africa. It will also provide a platform for African businesses in need of foreign capital and technology links.
Africans should take full advantage of the opportunities provided by China so they can achieve their industrialization goals, Li adds.
Li notes that Kenya is one of the demonstration countries of China-Africa industrial capacity cooperation, with advantages of geography, industrial foundation and legal reforms.
Adan Mohamed, the Cabinet secretary for the Ministry of Industry, Trade and Cooperatives, says the forum is an indication that China has a lot of confidence in Kenya and is committed to taking the partnership to a greater level.
“As the regional business hub, Kenya prides itself in attracting investors. Many investors are also interested in choosing the country as their investment destination because of its strong strategic location on the continent,” he says.
Mohamed says the partnership and the linkage between the Chinese and Kenyan
Business communities are one of the strongest on the continent, and the country looks forward to taking it to the next level.
“We are confident that business communities all over the world would be looking for business environments that are friendly, predictable and competitive to do business, and we are confident as a country to be able to provide those necessary conditions to drive this partnership further,” he adds.
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George Kiondo, a member of the Kenya National Chamber of Commerce and Industry, says Kenya is offer good prospects for businesses.
“The private sector in Kenya is vibrant and in good health, making the country a promising place to do business, with growing markets and good investment opportunities. A thriving private sector is central to achieving the country’s vision 2030,” he says.
Noting that the private sector is the main engine of economic growth, Kiondo says the Kenya National Chamber of Commerce and Industry is committed to promoting growth in the private sector by supporting platforms like the China-Africa industrial Capacity Cooperation Expo to enable its members to create meaningful networks. “Kenya and China, including the private sectors, collaboratively joined hands to launch the expo in order to promote trade and investment for the mutual benefit of both countries. We should therefore ensure that we derive substantial benefits from the forum,” Kiondo says.
He adds that expanding and diversifying Kenya’s export base is crucial to economic stability, so it is necessary to establish strong trade relations with China, since it has high potential for importing goods from Kenya.
However, he says, “Efforts are required to address the trade imbalance between the two countries.”
The Standard Group Plc is a
multi-media organization with investments in media platforms spanning newspaper
print operations, television, radio broadcasting, digital and online services. The
Standard Group is recognized as a leading multi-media house in Kenya with a key
influence in matters of national and international interest.
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