Kenya, Korea seal partnership for construction of 5,000 affordable houses
Kenya and Korea have announced several partnerships that will involve the construction of more than 5,000 affordable houses and the establishment of a Smart Driving Licensing System, by local and Korean companies.
Through the Korea Trade Centre, Nairobi (KOTRA), the Commercial Section of the Embassy of Korea, and the Ministry of ICT and the digital economy, the two countries on Tuesday signed a Memorandum of Understanding (MOU), that will also see the development of a smart city masterplan in Tatu City Special Economic Zone.
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The partnerships will accelerate digital and infrastructural development within select urban and rural centers in Kenya, and follow a state visit by President William Ruto to Korea in November 2022.
“The government has played an enabling environment through various legal and regulatory frameworks to spur Kenya’s digital economy such as the National ICT Policy, Digital Economy Blue Print and National ICT Master Plan (2022-2032) among other policy interventions,” said ICT Principal Secretary, John Tanui.
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KOTRA’s Nairobi Managing Director, Ikhyun Eom, said KOTRA was committed to foster and facilitate trade between the two countries, to bridge the trade gap.
“One of KOTRA’s primary objectives is to enhance Kenya’s participation in the construction sector, particularly in the realm of smart cities. We firmly believe that investing in smart city initiatives not only enhances the quality of life of citizens but also presents a fertile ground for economic growth and job creation,” said Mr Ikhyun.
Private corporations that were signatories of the MOUs included Kumkang East Africa Ltd, a subsidiary of Kumkang Kind South Korea which deals in Aluminum formwork building systems, EPCO Builders Limited and Unity Homes Limited.