Where to look for profitable investment opportunities? [Archives:2004/743/Business & Economy]

June 3 2004

Mahyoub Al-Kamaly
There are many queries among the Yemeni investment circles about the successful areas for investing their capitals in and the more significant ones with regard to profits and security of the course of growing them, taking into account that the value of projects licensed for in various sectors amounted to about YR900 billion since 1992.
Officials at the state authority for investment say there are fields that brought great profits to investors, enabling them to expand the volume of operating their money especially those jobs implemented in the health sector, storing and grinding grains, fish canning factories, medicine industries, plastics and excavation and developing the granite and various stones.
The sources add that the proportion of foreign private sector investment increased by 40% out of the gross of investments. They say that is attributed to improvement of investment climate and stability of political, security and economic situations in the country.
Those officials confirm that indicators point out to an increase of Arab and foreign investments in Yemen in the coming period because of providing elements of security stability and stability of foreign currencies exchange rates in addition to the excellent facilities granted to investors.
Among the good facilities are the endeavours by the state authority for investment for providing information, completion of measures pertaining to the use of some expertise assisting investors, holding training courses on the projects, in addition that among the legal privileges that exempt some projects from all taxation duties. Also exempted from taxation and customs duties are the agricultural and fish production requirements. Exempts are also including requirement of production in other projects by 50% of the customs duties. The authority says the investment projects have provided job opportunities for around 150 thousand workers but ambitions still exist for taking more measure attracting investors and increasing future work opportunities.