A plan for attracting Gulf and Asian investments [Archives:2004/727/Business & Economy]

April 8 2004

Yemen Times Staff
The Yemeni government is seeking to activate the current stagnation in the sector of investments by implementing a new strategic plan aimed at attracting capitals from investors fro the GCC states and Asian countries in order to build projects in various areas.
The new plan depends on creating a qualitative transfer in the infrastructure, services and requirements by investors for the construction of vital and economic projects through organizing data and updating them via the internet and programs of computer.
The plan finalized by the state authority for investment aims at launching a direct promotional campaign for attracting local institutions and coordination and communication with the Yemeni diplomatic missions abroad for promoting for available investment opportunities , especially in the free zone in Aden.
Through the sector of promotion, the state authority of investment would focus on attracting businessmen tin the GCC countries and East Asia, including China, India, Singapore, and Iran, and Turkey in Europe.
The plan included mechanisms for the success of promotion process by holding promotional symposiums in the targeted countries to encourage investment in Yemen. It also plans to conduct special interviews and meetings with representatives of regional and international organizations for the search for programs of supporting the Authority in order to develop the self capabilities and institutional building. The promotional campaign also includes participation in activities of joint ministerial committees and symposiums and courses by the Authority inside and abroad in addition to activating projects of investment agreements concluded with other countries.
The state authority for investment would also adopt the way of negotiating with parties related to investment in some Arab and foreign countries for attaining at final formulas of draft agreements with the concerned parties and setting up a mechanism for their implementation.
The investment opportunities that would be promoted for are in the sectors of energy and gas and oil, fish projects, tourism, production of computers and those opportunities available in the free zone of Aden.