The Belt and Road Initiative China-Kenya Investment Mission Program is launched. [Photo/WeChat account: hangzhoushangwu]

The Kenya-China (Hangzhou) Investment Promotion Event was held in Qiantang district, Hangzhou, on June 16, launching a new China-Kenya investment mission program under the Belt and Road Initiative.

The event was a response to Kenya's call for cooperation. Chinese enterprises were encouraged to explore opportunities in Kenya through targeted investment, localization, and sustainable growth.

The new China-Kenya investment mission program will leverage Hangzhou's strengths in digital economy and outbound services, regularly organizing delegations to Kenya for on-the-ground investment matching and project implementation.

Kenya, known as the "Gateway to East Africa", boasts vast market potential and strategic importance. Key sectors include manufacturing, agriculture, tourism, and information and communication technology.

Digital trade emerged as a top priority during the event, with Kenya's digital economy growing at 2.5 times the rate of its physical economy and expected to reach three times in the next five years. Earlier this year, Hangzhou and Kenya signed a memorandum of understanding to jointly build a four-pillar collaboration system for digital trade.

Egatee, a Hangzhou-based business-to-business cross-border e-commerce platform, has established localized networks in seven African countries, including Kenya. It aims to bring China's digital trade experience to the continent, supporting over 12,000 wholesalers and 30,000 retailers online in Kenya alone.

John Mwendwa Munyao, chief executive officer of the Kenya Investment Authority, speaks during the event. [Photo/WeChat account: hangzhoushangwu]