Kenyan Prime Minister urges Asia to invest in his country

Kenyan Prime Minister urges Asia to invest in his country

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The Prime Minister of Kenya Raila Odinga arrived on November 6, 2012 in Nairobi. The minister arrived after a week-long trip to Malaysia and South Korea as he showcased Kenya as an investment destination and he urged Asia to invest in Kenya.

The minister spent most of his working trip time wooing the business community to invest in the country for mutual benefits. Odinga met Kim Hwang Sik in Seoul for talks on promoting bilateral ties between the two countries as well.

The meeting between the two ministers involved the discussion of a joint venture to exploit the untapped energy potential in the African country, as well as the prospect of the development of a nuclear power plant in the future.

The talks between the ministers came after the Daewoo Corporation of Korea finalized plans to come up with a 300 MW coal power in Kilifi, while the government is looking for funds to increase production of up to at least 1000 MW. Odinga appealed to the investors to take advantage of the opportunities in the energy sector. The Prime Minister also urged the Korean firms to consider setting up branches in Nairobi under the ‘build, operate and transfer’ arrangement, while arguing that the energy deficit remains the biggest challenge at present.