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Kenya to benefit from South Korean investment

Kenya is hopeful using the third Joint Economic Committee next month in Seoul to woo investors from the Republic of South Korea.

The Joint Economic Committee will deliberate on various issues including Education, Information and Communication and Technology, Trade and Investment promotion.

This was revealed by Speaker of the Senate Hon. Ekwe Ethuro during a dinner gala hosted by the South Korean Embassy to celebrate the country’s foundation day on Friday evening at Safari Park Hotel.

Mr. Ethuro took the opportunity to urge investors and business people from the Republic of South Korea to come and invest in Kenya.

Speaker of the Senate Hon. Ekwe Ethuro and Busia Governor Sospeter Ojaamong listening to a speech during the Korean dinner gala at Safari Park Hotel in Nairobi. PHOTO | HILARY KIMUYU
Speaker of the Senate Hon. Ekwe Ethuro and Busia Governor. Sospeter Ojaamong listening to a speech during the Korean dinner gala at Safari Park Hotel in Nairobi. PHOTO | HILARY KIMUYU

“I want to encourage Korean investors to set up shop in Kenya. Kenya is open and ready for investment,” Mr Ethuro said in his address.

Hon. Ethuro praised and thanked the Korean government for what they have done and are still doing to help Kenya achieve its 2030 goals.

He said that since 1991, Korea has offered training programmes to over 500 Kenyan Government officials.

The involvement of the Korea International Cooperation Agency’s (KOICA’s) in supporting Kenya’s social-economic development was also acknowledged.

VISION 2030

KOICA’s focuses on providing access to safe drinking water, increasing education opportunities for women, children and the youth, capacity building to improve public systems and administrative capacity.

KOICA has also partnered with the Ministry of Labour and the National Industrial Authority on the National Industrial Training master plan with the pilot project in Kisumu and Mombasa.

He concluded by saying that Kenya was confident that this will further strengthen the relationship between Kenya and Korea engagement.

The Charge d’affaires and the acting Korean Ambassador Hon Ki-jun You said that his country was ready and willing to help Kenya achieve Vision 2030.

Somalia and Indian delegation at the South Korean dinner gala. PHOTO | HILARY KIMUYU
Somalia and Indian delegation at the South Korean dinner gala. PHOTO | HILARY KIMUYU

Mr. You said that today South Korea produces some of the world’s finest electronic goods, automobiles, steel, ships and petrochemical products, and that Korea stands tall as an economic powerhouse that is now the sixth largest exporter in the world.

He added that the Republic of Korea was tapping into its expanded economic and national strength to play a leading role in the international community.

“I have come to realize that Kenya is truly the land where Safari was born and that it should be the first choice for anyone who wishes to experience the beauty and grandeur of African nature and wildlife, and the friendliness of African people,” Mr You said.

The gala dinner was attended by Ambassador’s from various missions based here in Kenya. Also present at the event was Busia County Governor Hon. Sospeter Ojaamong.