President William Ruto entered a deal with Belgium on Wednesday, March 29, allowing biotechnology companies to establish multinational firms in the country.
According to the Head of State, Belgium would set up companies dealing in vaccine production, cancer drug manufacturing, and insulin production.
The three firms would bolster the country's preparedness to tackle medical emergencies and empower Kenya to become a regional powerhouse in the health sector.
Ruto sealed the deal after meeting Belgian Prime Minister Alexander De Croo at FPS Chancery in Brussels, Belgium.
President William Ruto and Belgium Prime Minister Alexander De Croo at FPS Chancery, Brussels on Wednesday, March 29, 2023
Besides establishing companies, Belgium will support Kenya’s quest to maintain peace and stability for the region’s prosperity.
This was made public after signing a Memorandum of Understanding on Political Consultations.
To lower the energy cost in the country, Ruto also agreed to partner with Belgium to advance the growth of the renewable energy sector in Kenya and promote carbon credit management.
Moreover, the deal would see Belgium aid the country in managing and scaling up Port of Mombasa operations.
"Other areas of partnership discussed include port management, the digital economy and Kenya’s position on the Ukraine war.
"Belgium will also support Kenya’s quest to maintain peace and stability for the sake of the region’s prosperity," the State House communique read in part.
The deal came hours after Germany pledged support for Kenya in penetrating European markets.
President Ruto appreciated Germany’s capacity-building support to facilitate Kenya’s products into the European markets.
He invited more German companies to invest in value addition of raw materials in Kenya.
"The better access to Europe will help Kenyan firms to produce and sell more. This will accelerate employment creation and support more lives," Chancellor of Germany Olaf Scholz stated.
President William Ruto walks alongside the President of Germany Dr Frank-Walter Steinmeier at Schloss Bellevue on Monday, March 27, 2023.