[13th September 2012]

Deeper Collaboration between Kenya and the Toyota Tsusho Corporation.

Kenya Vision 2030, the country's development blueprint covers the period 2008 to 2030. It aims to transform Kenya into a newly industrializing, "middle-income country providing a high quality life to all its citizens by the year 2030". The Vision is based on three "pillars": the economic, the social and the political. The adoption of the Vision by Kenya comes after the successful implementation of the Economic Recovery Strategy for Wealth and Employment Creation (ERS) which saw the country's economy back on the path to rapid growth since 2002, when GDP grew from a low of 0.6% to 6.1% by 2006.

On August 15, 2012, Kenya's Vision 2030 Delivery Board and the Toyota Tsusho Corporation signed a Memorandum of understanding for cooperation. The idea of a Memorandum of Understanding came following discussions between Amb. Benson Ogutu and the President of Toyota Tsusho, Mr. Jun Karube when both parties noted that both Kenya and Toyota Tsusho had just launched development visions that aim to intensify growth in areas of mutual interest such as energy, agriculture and mining. The MOU signed by the two entities therefore seeks to promote comprehensive collaboration between the parties in the area automobiles, power and energy, petroleum and mineral resources, environmental conservation and infrastructure as well as agriculture and industrialization which are all critical to the achievement of Kenya's national vision.

The Vision 2030 Delivery Board is the executive committee based in the Ministry of State for Planning, National Development and Vision 2030 which is charged with managing Kenya's national vision. The Toyota Tsusho Corporation and VDB will form project teams within each business field to advance the respective business sector. The Toyota Tsusho Corporation has had a long history of friendship and partnership with the Kenyan People. The company opened its first overseas office in Kenya in September, 1962 and has positioned Kenya as a "priority country" in the company's GLOBAL 2020 VISION. In the automotive field, Toyota Tsusho has engaged in initiatives to support economic growth through business investments that are closely tied to the community including employment creation and human resource development. The Toyota Tsusho Corporation in Kenya is also moving forward in a wide range of businesses including geothermal power generation projects.

By signing this MOU, the Toyota Tsusho Corporation has made its mark as Africa's number one trading partner. In Kenya, the company hopes to contribute to Kenya's economic development through expanding its automobile business and actively supporting Kenya's vision 2030 through accelerating projects in diverse fields in Kenya and the region.

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