FullCare Medical has launched a new medical garment production facility in Tatu City, the 5,000-acre mixed-use Special Economic Zone (SEZ) in Kenya.
The FullCare Medical facility represents an investment of USD 30 million and employs 1,800 Kenyans in the first phase. In subsequent phases, the company plans to employ up to 7,000 Kenyans.
“Our selection of Kenya and Tatu City SEZ for our investment reflects our belief in the transformative power of collaboration. This state-of-the-art facility, leveraging cutting-edge solar technology for sustainable manufacturing, is poised to export USD 60 million of medical goods annually while catering to the local market’s needs,” said Lu Jianguo, Founder of FullCare Medical.
“Tatu City SEZ is attracting record foreign direct investment to Kenya. As Kenya’s first mixed-used SEZ, Tatu City has already attracted USD 2.5 billion in investment from more than 78 businesses — many of them global leaders in their fields, from healthcare and food and beverage production to call centres and software engineering. These investments are creating many thousands of much-needed jobs for Kenyans,” said Stephen Jennings, Founder and CEO of Rendeavour, the owner and developer of Tatu City.
Zhang Yijun, Minister Counsellor at the Chinese Embassy in Nairobi, and Kenyan government officials attended the opening ceremony.
“FullCare Medical symbolises the friendship between China and Kenya in the shared pursuit of progress,” said Mr. Zhang.
The International Finance Corporation, the investment arm of the World Bank, provided USD 100 million in financing to FullCare Medical for its Africa expansion.
The FullCare Medical facility represents one of the most significant foreign direct investments in Kenya in recent years, setting the benchmark for dynamic and entrepreneurial Chinese companies in Africa.
More than 78 local, regional and global businesses are operational or under development in Tatu City’s business-friendly location, including CCI Global, Heineken, Dormans, Copia, Cooper K-Brands, Grit Real Estate Income Group, Twiga Foods, Freight Forwarders Solutions, ADvTECH, Friendship Group and Davis & Shirtliff.
Business benefits at Tatu City SEZ include VAT zero-rating, import and stamp duty exemptions and 10% corporate tax for the first 10 years and 15% for 10 years thereafter.
