China has financed more than 100 major projects in the last 56 years, the country’s envoy to Kenya Wu Peng has said.
As China celebrates its 70th anniversary, Peng says the most outstanding projects over this period include the Moi International Stadium in Nairobi, Thika Superhighway, Mombasa to Nairobi standard gauge railway and the Nairobi to Naivasha SGR, which will be launched soon.
“Co-operation between China and Kenya is not defined by the SGR alone. Other projects by the Chinese side include laying of high-speed internet connectivity by Huawei and industrial upgrading,” Peng said in an opinion editorial.
“For years, China has been one of Kenya’s top trading partners and a major source of foreign direct investment. In 2018, China’s non-financial direct investment in Kenya has witnessed a double-fold increase to about USD520 million,” he added.
He also noted that more than 400 Chinese businesses are currently operating in Kenya, creating nearly 130,000 jobs for Kenyans.
“These companies have played an important role in accelerating the advancement of the Big Four agenda, Kenya’s development blueprint by President Uhuru Kenyatta,” he said.
He noted that over the past 70 years, China has risen from a struggling agriculture-based economy to the world’s second-largest economy.
