Ruto secures Sh107 billion deals from Chinese investors to propel Kenya's economy, create jobs

President William Ruto commenced his tour in Beijing, China, on Wednesday by witnessing the signing of investment deals worth Sh107 billion by seven Chinese firms.

The companies, spanning various sectors which include manufacturing, agriculture, tourism, and technology, are set to inject the much-needed capital to significantly boost youth employment and accelerate economic growth.  

The agreements were signed during the Kenya-China business forum organised by the Ministry of Trade in partnership with KenInvest Authority and the Chinese government.

Leading the commitments is China Wuyi, which will invest Sh19.5 billion to establish a special economic zone (SEZ) on a 191-acre land in Kilifi’s Kikambala area.

The company is leveraging government incentives to SEZs for both public and private zones.

The project is expected to generate over 5,000 jobs.

Penfeng Investment Limited and Shangcheng Apparel Group will allocate Sh2.6 billion to build warehouses for textile, garment, and solar power factories in Kajiado.

Rongtai Steel Limited, on its part, plans to spend Sh19.5 billion on steel production factory in Lukenya to meet the rising demand from the affordable housing program. 

The company is set to create 700 new jobs.

Agricultural ventures feature prominently, with Shandong Jialejia Agriculture committing Sh3.9 billion to a 500,000-hen egg farm in Kajiado.

The company is capitalising on Kenya's zero-rated import policy for hatchery eggs. 

Zonken Group, a biotech firm, will invest Sh41.6 billion in a 300-acre aloe vera processing plant in Baringo and an additional Sh10.4 billion for a 72-acre vineyard to expand grape exports. 

The tourism sector also gains a Sh39 billion boost from Huatian Hotel Group, which will acquire and lease some hotels in Nairobi to accommodate surging visitor numbers following Kenya’s visa-free entry policy.  

In transport technology, Kenya Smart Transportation Industry Park and Anhui Jiubao Electronic Technology will invest Sh6.5 billion in a Murang’a factory to produce traffic lights and smart equipment.

The project is set to create over 5,000 jobs, aligning with the vision to modernise infrastructure and meet regional demand for tech solutions.  

Ruto also oversaw the signing of partnerships between KenInvest and three Chinese entities.

They include the China-Africa Development Fund, which has already deployed $10 billion in African projects, Hangzhou Municipal Bureau of Commerce to boost e-commerce ties and Duofu International Holdings Group to attract more Chinese investors.

Highlighting key incentives, Ruto emphasised a 10-year tax holiday, easy profit repatriation, legal protections, and a stable regulatory environment.  

“Kenya is open for business,” Ruto declared in his address, noting that over 500 Chinese firms already operate in the country. 

He also invited investors to Nairobi’s 2026 Investor Conference, reiterating the government's ambition to leverage its tech-savvy workforce and strategic location as a gateway to East Africa. 

“You have every reason to invest here,” he said, terming the deals as a milestone towards the country's economic transformation.  

He noted that this underscores the country's push to position itself as East Africa’s premier investment and logistical hub.  

Ruto, who arrived on Tuesday, is in the country for a four-day state visit at the invitation of President Xi Jinping.

He is accompanied by Prime Cabinet Secretary Musalia Mudavadi, CSs Lee Kinyanjui (Trade), Davis Chirchir (Roads) and William Kabogo (ICT) and several PSs.