CS Kuria Bags 6 Deals With 30 Saudi Tycoons Worth Ksh140 Trillion
The delegation was led by Saudi Arabia Minister for Investment Khalid Al Falih and comprised representatives from 30 companies
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Trade Cabinet Secretary (CS) Moses Kuria on Wednesday, July 12 expressed his delight in hosting the highest delegation of government officials and multibillion-dollar investors from the Saudi Kingdom in Nairobi, Kenya.
The delegation was led by Saudi Arabia Minister for Investment Khalid Al Falih and comprised representatives from 30 companies worth a cumulative $991 billion (Ksh140 trillion).
In a statement, CS Kuria announced that Kenya signed six deals with visiting Saudi Arabia investors, which included job opportunities targeting 10,000 Kenyans who will be based in the Middle Eastern country.
Trade Cabinet Secretary Moses Kuria gifting the Saudi Minister of Investments, Khalid Al Falih on July 12, 2023. /MOSES KURIA
The former Gatundu South Member of Parliament (MP) further projected the increase in the number of job opportunities to one million as part of the partnership.
"Kenya is the Gateway to the rest of Africa and I am more than convinced we are on the right track. This country will achieve its greatest wins once we embrace and make it easy for investors to come into the country.
"Among the many agreements we've been able to sign today, is the export of some 10,000 skilled labourers with an aim to get this number to one million experts once we finalize the frameworks. Other contracts will be in the fields of Agriculture, poultry and meat products, Energy, and Banking sector among others," stated the CS in part.
On his part, the Saudi minister of investments, Al-Falih, reiterated his Government's commitment to invest in Kenya, as well as both the Government and the investors, and that they are ready to move into Kenya's economy immediately.
The CS also indicated that the government was keen on stepping up the construction of industrial parks across the country so as to attract similar investments.
"The ongoing construction of the County Aggregation and Industrial Parks (CAIPS) will play a pivotal role in accommodating most of these investors, hence the great interest His Excellency the President has in their progress.
"It's also of great importance for our educational institutions to collaborate with the Saudi Arabia government and come up with a curriculum that fits the Saudi market, for us to be able to export more of our trained experts," he added.
Among the companies that participated in the forum are the Saudi Exim Bank, Saudi Fund for Development, Tadawul, Red Sea Gateway Terminal, Seera Group, Arco, Mepco, Almarai, Maaden, Al Rajhi International for Investments, Saudi National Bank, Flynas, and the Grand mining group.
Kuria further downplayed the ongoing Azimio la Umoja demonstrations, adding that investors were resilient enough to invest in the country owing to its potential.
"The train has left the station and investors from all over the world are fighting for a chance to invest here.
"It's also of great importance for our educational institutions to collaborate with the Saudi Arabia Govt and come up with a curriculum that fits the Saudi market, for us to be able to export more of our trained experts," he stated.
Kuria was accompanied by his labour counterpart Florence Bore for the Wednesday meeting.
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