Trade Ministry calls Gulf businessmen to invest in Yemen [Archives:2007/1042/Local News]
SANA'A, April 14 ) In a press conference held on Saturday, Minister of Trade and Industry Dr. Yahya Al-Mutawkel pointed out that the Investment Opportunities Exploration Conference due to be held by the end of this month is a great opportunity to promote investments in Yemen.
Dr. Al-Mutawkel further indicated that his ministry specified more than 100 investment opportunities in energy, extraction and transformational industry, agriculture, animal and fish wealth, real estate, housing, transport, and tourism sectors. Also, he added that such opportunities would help minimize the volume of unemployment and enhance the economic growth of the country. Additionally, he called all the Gulf investors to come to Yemen and he promised that his ministry in collaboration with the concerned authorities will provide the required facilitations.
The Ministry also announced that more than 167 Yemeni, Arab, and International companies will participate in the conference, pointing out that more than 105 Arab and foreign companies have showed willingness to take part and will be represented by more than 211 participating companies. It is worth mentioning that 80 percent of the participants belong to the Gulf investors along with the participation of 62 Yemeni companies and the number is still on increase.
Prepared in collaboration with the General Secretariat of Gulf Cooperation Council, the conference is to attract more than US $7 billion. It comes also within the economic reforms efforts aimed at integrating the Yemeni economy into the Gulf economy.
For his part, chairman of the General Investment Authority Mr. Salah Al-Attar declared that they signed an agreement with German Technical Cooperation, known as GTZ, to prepare an investment map for all sectors in Yemen, adding his authority is working for preparing long term strategies which will help draw investments and abolish all hinders before investors. He also pinpointed that his authority will keep serving and facilitating matters before investors even after granting them the licenses and the certificates required for investing so as to do away with all existing impediments.
Al-Mutawkel also denied that the new Cabinet reshuffle was conditioned by donor countries. Also, he assured that it is an internal affair and the relation with donors is that of partnership. He went on saying that the conference will review developing the investment environment and the economic reforms achieved so far.
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