NAIROBI, Kenya, Nov 28 – Malaysian investors are in the country to deepen trade relations with Kenya’s business fraternity and broaden their investment footprint in the region.
Leading the Malaysian delegation, Director for Africa Malaysia External Trade Development Corporation (MATRADE) Aureen Jean Nonis said the group is looking to identify business opportunities in Kenya.
“There has been interest in providing technology transfer for the furniture sector, and investing in consumer items. In the services sector Malaysia can look at investing in project management as well as processing household waste into renewable energy,” she said.
MATRADE is Malaysia’s principle government agency for promoting exports of Malaysian manufactured and semi-manufactured products and services.
The Malaysian companies in the delegation are involved in personal and healthcare products, household finishing and toiletries, ready-to-eat food products and precision machines among others.
The objective of the Special Marketing Mission, Nonis said, is to open up the Kenyan market to quality Malaysian products at affordable prices.
Malaysian exports to Kenya for this year are at Sh5.8 billion, while Kenyan exports to the Asian country stand at Sh419 million.
Primary exports from Kenya to Malaysia include chemicals and chemical products, metals and metallic salts (soda ash) as well tannery products, while Malaysian products coming into Kenya include palm oil, furniture (mattresses) and electronics.
Nonis said Malaysia is looking to boost penetration in the African region in the areas of infrastructure development as well.
“Malaysian companies are doing very well in other parts of the world in the areas of construction of roads, buildings, highways and engineering services, but many of them have not come to Africa. We are trying to get companies over to Kenya,” she said.
To further enhance bilateral relations with Kenya, the delegation will also meet officials from the Ministry of Trade and other government agencies such as the Investment Promotion Council and Kenya Investment Authority.