Tatu City has formalised a strategic partnership with the Kenya Guangdong General Chamber of Commerce, aimed at fostering robust bilateral trade ties between Nairobi and China.
The partnership was officially inked in Guangzhou, the capital city of Guangdong Province, and it serves to forge a strong connection between Guangdong’s vibrant business community and Tatu City.
Tatu City, in this context, functions as an ideal conduit for Chinese companies seeking a seamless entry point into the African market.
Kin W Xian, the Chairman of the Kenya Guangdong General Chamber of Commerce, said the collaboration will benefit both countries.
“The Kenya Guangdong General Chamber of Commerce is delighted to partner with Tatu City to support the achievement of our mission to promote economic cooperation, trade, and investment between Africa and Guangdong,” he said.
Guangdong Province, often hailed as the economic powerhouse of China, notably ranks second in terms of exports to Kenya and holds the top spot for imports from Kenya, as highlighted by MIT’s Observatory of Economic Complexity.
Preston Mendenhall, the Country Head of Rendeavour, the entity that owns and develops Tatu City, underlined the burgeoning involvement of Chinese companies within Tatu City SEZ, which happens to be Kenya’s pioneering operational SEZ.
“We are witnessing a notable upsurge in investments from highly entrepreneurial Chinese firms diversifying their global manufacturing operations to cater to international clients. Kenya and Tatu City provide an ideal platform, equipped with abundant labour resources and convenient access to global markets, serving over one billion consumers across the continent,” he said.
Last month, President William Ruto participated in the 3rd Belt and Road Forum for International Cooperation in Beijing, where he entered into ten investment agreements with Chinese companies.
Tatu City, home to over 75 Kenyan, regional, and multinational enterprises, is the country’s first operational Special Economic Zone.
It offers an array of enticing benefits, including low corporate taxes, exemptions from import duties, zero-rated VAT, and zero withholding tax.
The city boasts world-class infrastructure, featuring round-the-clock water supply, an extensive network of more than 60 kilometers of roads, and a robust power capacity of 135MVA, ensuring an impressive 99 percent uptime.