Demonstrations and sit-ins won’t hinder investment [Archives:2007/1098/Local News]

October 25 2007

Almigdad Dahesh Mojali
SANA'A, Oct. 28 ) President Ali Abdullah Saleh says investment requires stability, “Unfortunately, some people's demonstrations and sit-ins create obstacles to such investments.” However, he affirmed that investment in Yemen will progress by removing such obstacles and encouraging investors.

The president made these statements Saturday at an extended meeting about issues associated with investment in Aden, Abyan, Lahj and Al-Dhale'.

At the meeting, the General Investment Authority chairman reported on investment activities in Yemen, positive results of the conference on Exploring Investment Opportunities in Yemen and measures taken to better the nation's investment climate.

According to the chairman's report, the authority has registered major investment projects totaling YR 193.9 billion in agriculture, tourism, industry, fisheries wealth and service projects. It indicates that such projects will provide more than 8,000 jobs.

Between April and September of this year, the authority registered YR 32.6 billion in projects in Aden, a YR 4.5 billion increase compared to the same period last year, while in Lahj, it registered approximately YR 11.9 billion worth of projects for the same period.

The director of Developing Port Cities also gave a report pointing out projects achieved this year, as well as future projects. The report noted achievements of the first phase of Aden's corniche and developing the governorate's Al-Drein industrial zone, as well as other development projects in Aden.

Prime Minister Ali Mujawar then headed the meeting, discussing reports on investment, health and services in these four governorates, which he said received good shares of such investment projects due to their attractive investment features.

He called on all to gather their efforts to better Yemen's investment environment and overcome all challenges facing its investment process.