President William Ruto has urged Chinese investors to exploit existing opportunities in Kenya in the fields of energy, water, and housing.
Speaking on Monday, October 16, when he made an extensive tour of China's Engineering Corporation Limited in Beijing, China, Ruto said Kenya will support foreign investors who can engage in the value addition of the country’s abundant raw materials, especially in the energy, water and housing sectors.
"We have many opportunities in our country that you can explore especially in the areas of energy, water, and housing," President Ruto stated.
During the tour, President Ruto witnessed the signing of a Memorandum of Understanding (MoU) between the Ministry of Energy and Petroleum and Energy China.
The MoU entails optimising flexibility and reliability of electrical power system; planning, designing, transformation and modernisation of power generation, transmission lines, distribution lines, and substations.
Others aspects of the MOU are; utilising or unlocking the potential of renewable energy and advanced energy storage for supporting higher domestic energy sufficiency and electricity interchange; digitalisation, modernising and innovative management of power systems and power plants.
The MoU was signed by Energy PS Alex Wachira on behalf of Kenya while Lyu Zexiang signed on behalf of China Energy International Group.
Chairman of the organisation Song Hailiang, noted that they were ready to collaborate with Kenya in projects aimed at transforming the lives of its citizens.
"We already have our projects running in Kenya and we want to explore other opportunities in the country," said Mr Hailiang.
At the same time, Kenya signed a MoU with Huawei telecommunications company to promote digital transformation.
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