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Kenya steps up campaign to woo Chinese investors

(Xinhua)
Updated: 2008-07-03 20:42

The Kenyan government has stepped up campaigns to woo Chinese traders to invest in the East Africa's biggest economy.

During the opening of a two-day China-Africa Development Fund workshop on Wednesday. Kenyan Trade Uhuru Minister Kenyatta urged Chinese companies to consider investing in the export processing zones where investors enjoy an array of tax incentives including a 10 year tax holiday.

The bid to market Kenya as the most favorable investment destination in the region is the subject of a two-day China-Africa Development Fund(Cadfund) workshop in Nairobi.  

Kenyatta said the Kenyan government had put in place several measures to protect foreign investors and their investments, among them a green light to repatriate capital and remittances of dividends and interest under the Foreign Investment Protection Act.

The China-Africa Development Fund (Cadfund) was formed as a follow up to the 2006 Beijing summit on China-Africa cooperation, at which China promised to boost aid to African countries.