Kenyan Deputy President William Ruto (2nd from right) and other guests unveil the plate of the Africa Economic Zone Pearl River in Eldoret, western Kenya, on July 7, 2017. [Photo from Xinhua]
The ground-breaking ceremony of Kenya's first special economic zone (SEZ)was held on July 7 in Eldoret, western Kenya, Xinhua reports.
The SEZ, named Africa Economic Zone Pearl River, is jointly built by Africa Economic Zone, a Kenya-based company and Guangdong New South Group from China.
The SEZ, with an investment of around US$2 billion, is expected to create around 40,000 direct jobs and 150,000 indirect jobs once it goes into operation.
Industries to be introduced into the SEZ will include agro-processing, high tech, furniture, textile, machinery and building.
The first phase of the project is scheduled to be completed within two years.
"China has accumulated rich experience in industrialization in its reform and opening up over the past several decades," said Kenyan Deputy President William Ruto, who believes that the joint venture will greatly help Kenya to learn from China to boost its industrialization.
Zhu Layi, President of Guangdong New South Group, said that the SEZ will introduce advanced industrial and manufacturing ideas from China and efforts will be made to ensure enterprises settling in the SEZ are fully qualified, so as to help Kenya achieve sustainable development.