Saudi Arabia, Kenya Agree to Deepen Investment

Saudi Arabia and Kenya are set to strengthen their economic and political ties following a high-level meeting in Riyadh. The first Saudi-Kenyan Political Consultations Committee meeting was co-chaired by Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah and Kenyan Deputy President Musalia Mudavadi. The discussions focused on enhancing bilateral relations, boosting coordination, and supporting regional security and stability.

Key outcomes of the meeting included the signing of three Memoranda of Understanding. The first aims to encourage direct investment, signed by Saudi Minister of Investment Fahad bin Abduljalil Al-Saif and Mudavadi. A second agreement focuses on cooperation in customs matters, signed by Saudi Governor of the Zakat, Tax and Customs Authority Eng. Suhail bin Mohammed Abanmi and Mudavadi. The third establishes a partnership between the Saudi Export-Import Bank and the Kenya Development Corporation, signed by EXIM Bank CEO Eng. Saad bin Abdulaziz Al-Khalb and KDC Director General Dr. Nora Ratemo.

Further cementing the cooperation, an agreement on the recruitment and employment of Kenyan workers was also signed. Saudi Vice Minister of Human Resources and Social Development for Labor Dr. Abdullah Abuthnain and Kenyan Cabinet Secretary for Labor and Social Protection Dr. Alfred N. Mutua signed this accord. The meeting saw participation from several other Saudi officials, including Vice Minister of Foreign Affairs Eng. Waleed Elkhereiji and Saudi Ambassador to Kenya Saad AlNafie.