KENYA SIGNS SH63 BILLION IN CONCESSIONAL DEVELOPMENT FUNDING WITH SOUTH KOREA
For the benefit of the people of both Kenya and Korea, President Yoon pledged to improve ties between the two countries.
According to President William Ruto, the project at Konza Technopolis would strengthen Kenya's digital ecosystem, which is an important government endeavor meant to increase prospects in the digital and creative economies for the country's youth.
He declared, "This project will offer a first-rate digital media and entertainment ecosystem for training, research, and the spread of new technologies."
He praised Korea for its support of Konza Technopolis under the Economic Innovation Partnership Program.
He said this on Tuesday at the Korea International Exhibition Centre in Goyang, near Seoul, during discussions with Korean President Yoon Suk Yeol on the fringes of the Korea-Africa Summit.
To construct the Kenya Advanced Institute of Science and Technology (KENYA-AIST), which is modeled after the Korea Advanced Institute of Science and Technology, an organization essential to Korea's economic transformation, President Ruto thanked President Yoon for his assistance.
He stated that Kenya-AIST will be unveiled later this year and is almost finished. At the institute's formal launch, he extended an invitation to President Yoon to visit Kenya.
"I would want to use this occasion to extend an invitation to Your Excellency to attend the inauguration ceremony. He continued, "We are optimistic that this institution will serve as a well-known showcase for scientific and technology cooperation between Korea and Africa.
Among the ongoing joint projects between Kenya and Korea, President Ruto mentioned the creation of Bus Rapid Transit Line 5, the Nairobi ITS, the duality of the 78km Machakos Junction-Emali Road, water supply and sanitation for the Konza Technopolis, and the Vaccine Production Project.
President Ruto pleaded with President Yoon to expedite the Kenya-Korea Bilateral Labor Agreement's implementation during the meeting.
"I guarantee that my administration has implemented strategies to guarantee that any Kenyan worker in Korea adheres to Korean regulations and employment agreements, which include going back home when their contracts expire," he continued.
According to President Ruto, Kenya is eager to improve trade ties with Korea to achieve balanced commerce between the two cordial countries.
"Even though Korea now benefits from the current trade balance, we have a chance to collaborate to close this gap," he said.
He went over additional areas of collaboration that Kenya and Korea are exploring, such as manufacturing, green industrialization, and maritime development.
He mentioned that through technical alliances, infrastructural development, and capacity building, Kenya seeks Korea's assistance in growing the semiconductor industry.
Kenya's goal is to lead Africa in both manufacturing and technology. We want the Korean experience to help us fulfill our energy needs, and part of that effort involves adding nuclear energy to our mix of renewable power sources," he stated.
For the benefit of the people of both Kenya and Korea, President Yoon pledged to improve ties between the two countries.
According to him, Korea is prepared to assist Kenya in achieving its ambitious transformation goal in the areas of technology, infrastructure development, and water and dam initiatives.
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