Priority to industrial sectorYR 9 billion cost of new investment projects [Archives:2003/652/Business & Economy]

July 21 2003

The investment projects in various sectors, registered during the past three months, amounted to 81 with estimated cost of YR 9 billion and 700 million. Statistics issued by the state body for investments lately mention that the projects registered during the period from April to June 2003 have been distributed various areas in the country: 51 projects in the capital secretariat, 15 in the governorate of Hudeida, 8 in the governorate of Aden, 5 in Taiz and 3 in Hadramout.
The statistics also mentioned that the projects include food industries, fishing and exportation, iron, engineering and electrical industries and building swimming pools and recreation parks and others. The project would provide work opportunities for about 2000 people at the beginning of operating them, a result the official circles hope for reducing the rate of unemployment.
Industrial projects have occupied the first priority of a total number of 46 projects out of the 81, at a cost of YR 5 billion. The second place is the share of services sector including 14 projects costing YR 997 million and 114 thousand. The tourist projects take the third place including 12 projects costing more than YR one billion, 400 million and 300 thousand.
Pursuant to the statistics the majority of investors are from local private sector and others are Arabs, most of them from Saudi Arabia.
According to this new batch of projects, the total investment projects in Yemen registered with the state investment body, since 1992 and till March 2003, reaches 4448 investment projects at a cost of YR 826 billion, 574 million and 548 thousand which they contributed to creating about 144 thousand jobs.