70 sites qualified for tourist investmentEmphasis on importance of private sector involvement in tourist development [Archives:2003/675/Business & Economy]

October 9 2003

Results of an all-out survey of the Yemeni coasts and heights area, the State Authority for Tourism has announced about, has revealed that the Authority has specified 70 sites capable of tourist investment, six of which are already ready for tourist investment and a similar number are under preparation for the same purpose.
Survey information reported that the Authority, in cooperation with consultative bureaus, is working at finalizing blueprints for the tourist sites that have been specified for being marketed to investors.
The symposium on future of tourist development in Yemen, recently held in Sana'a, has stressed the importance of the private sector role in tourist investment. The symposium recommended the necessity that concerned bodies should provide pieces of land situated in tourist areas and offer them to investors as well as preparing sites allocated for building tourist investment projects and protect them. The symposium also asked for issuing a presidential decree on determination of tourist areas.
Participants in the symposium also affirmed the significance of activating judiciary role in resolving disputes that may be occurring in investment sector and also providing opportunity for local communities to invest in tourist projects as well as creating specialized courts dealing with commercial cases.
Working papers at the symposium also pivoted around role of local and Arab banks and establishments in funding investment projects in tourism and also the reality of tourism development.
The symposium concluded by emphasizing the vital role to be played by private sector n tourist development and in supporting and developing internal tourism that is suffering from stagnancy because of the low level of Yemeni families income.