In a pivotal move poised to foster mutual economic growth, Kenya’s Tatu City Special Economic Zone (SEZ) has entered into a strategic partnership with the China-Africa Economic and Trade Chamber of Commerce (CAETC).
Supported by the Changsha County Government, this alliance is set to unlock a lot of investment opportunities between Kenya and China, further strengthening bilateral relations and enhancing business prospects.
The partnership with CAETC is seen as a milestone in enhancing connections between China and Kenya. Johanna Chen, Executive President of Changsha Chamber of Commerce, expressed excitement about the potential for economic growth through this collaboration, stating, “We are excited about the potential to drive economic growth through joint investments here at Tatu City SEZ.”
Tatu City, already home to several Chinese companies, including Sinotruk’s assembly, Tianglong, Stecol Corporation, and Peonystar, boasts a thriving environment for cross-border business growth.
With more than 75 operational or development companies representing over Ksh300 billion (USD 2 billion) in investments in Kenya, it’s become a hub for economic activity.
The business benefits at Tatu City SEZ are enticing, including VAT zero-rating, import and stamp duty exemptions, and a favorable corporate tax rate of 10% for the first ten years, followed by 15% for the subsequent decade.
This partnership, driven by CAETC’s mission to bridge the gap between Chinese and African enterprises and governments, signifies an exciting phase of collaboration and growth. As 77 companies, representing over KES 200 billion in investments, thrive in Tatu City, with more than 9,000 employees, it’s clear that this SEZ has become a catalyst for economic progress and international cooperation.
With guaranteed infrastructure, utilities, security, and a favorable SEZ framework, Tatu City stands as a promising gateway for individuals and businesses seeking growth and success.
Tatu City is a versatile mixed-use development, thoughtfully designed, spread across an expansive 5,000 acres, it is designed to accommodate a diverse community of more than 250,000 residents.
Nestled within its boundaries are residential neighborhoods, educational institutions, commercial spaces, a bustling shopping district, healthcare facilities, expansive green spaces, a vibrant sports and entertainment complex, and even a dedicated manufacturing area.
Tatu City has become a magnet for businesses, with over 70 companies establishing their operations within its vibrant ecosystem.
Among the notable enterprises are Cooper K-Brands Limited (CKL), Copia, Twiga Foods, and many others, collectively contributing to the growth and dynamism of this thriving urban development.