Twenty-four years of economic changes [Archives:2002/31/Business & Economy]

BY MAHYOOB AL-KAMALI
YEMEN TIMES STAFF
[email protected]
Since the election of president Ali Abdullah Saleh by the Peoples Constituent Assembly on July 17 1978, Yemen has made comprehensive economic and development transitions in all aspects of life, social, political, economic and cultural.
Declaration of the unity on May 22nd, 1990 is the most important historic event in the twentieth century at both national and regional levels.
When the president assumed power, Yemen was in a difficult economic and political situation. This impelled him with vigor to shoulder responsibilities with a view of adopting an administrative and financial reform program. Development plans to reinstate the basic infrastructure of the country have been given priority by the president. This can be clearly shown through oil excavations and mineral wealth to support the national economy.
During 1978 -1990, the president put great emphasis on efforts of leading constructive dialogues with Former South of Yemen to establish the republic of Yemen. Establishing the unity has paved the way for president Ali Abdullah Saleh to build the modern state of Yemen.
The president has devoted much of his attention to the Five-Year Plans.
First, completing the 1st Five-Year Plan, (1976-1981) which focused on the basic infrastructure of the country, general services, particularly agricultural activities, manufactured and mining industries.
Second, implementing the 2nd Five-Year Plan, (1982-1986). The infrastructure of the country during these years was implemented with a view of increasing valuable commodity.
The investment capitals totaled to YR 29,3 billion.
Third, implementing the 3rd Five-Year Plan for the years (1987-1991). This plan was mainly directed towards improving general services and production sectors.
The 3rd Fifth-Year Plan allocated around 75 percent of the overall basic infrastructural investment to increase productive capacity , mining, oil, gas, agriculture, electricity, water, construction and other economic and social services.
Following the achievement of the unity in 1990, the president gave his directives to the government to adopt annual plans in the face of the new variables of the new unified state.
Two Five-Year Plans were drawn up; the 1st Five-Year Plan (1996-2000) and the 2nd Five-Year Plan, (2002-2005).
Following declaration of the the Yemeni Unity in 1990, the president led a comprehensive economic reform program embarked on in the 1995. The economic reform program aimed at:
1.Canceling restrictions on foreign trade, the change towards market economy and removal of goods subsidy.
2.Establishing economic and industrial free zones and tackling problems of foreign debts and inflation.
3.Increasing foreign currency reserves of the Central Bank of Yemen to USD 3 billion.
4.Lessening side effects of the economic reform program on the limited income people.
Nationwide Vital projects achieved
In Sanaa, the Yemeni-Chinese Friendship flyover was built at the cost of CNY 50 million in 2000.
In 1996 the Second Phase of the 4th Electric Power Project was inaugurated in Sanaa at a cost of YR 375 million.
In Aden, the Container Terminal Project was successfully completed in 1993 at cost of USD 8 million.
In Taiz, the Aden-Taiz power network link project was built at a cost of YR 610 million.
In Hodiedah, the Hodiedah-Saada electric power project was implemented at cost of YR 141 million and building a road leading to Adoraihimi area.
In Lahj, the Almelah-Araha road was completed at a cost of YR 226 million and a number of educational projects at a cost of YR 44 million.
In Ibb governorate, a number of dams and water catchments were built at a cost of USD 1 million.
In Abyan, a number of electricity projects were built at a cost of YR 339 million.
In al-Jawf, an electricity project was completed at a cost of USD 250,000 and a number of schools were built at a cost of YR 10 million.
In Amran governorate, the Second Phase of Alboon Cooperative Society was inaugurated at a cost of YR 155. Besides, the Ring Road of the city was paved at a cost of YR 252 million.
In Adhalae governorate, the Water Catchment Project was completed and the Telecom Earth Station Project was inaugurated in al-Ghaidha City.

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