Yemeni industry impeded [Archives:2005/831/Business & Economy]
Industrial experts say that Yemeni industry remains impeded but that there are still a number of successful industries in the country, particularly in the food and beverage sectors.
Sources blame the continued weakness of Yemeni industry on price rises of raw materials, and increased customs charges. Domestic industrialists often complain of unfair competition to their products as a result of smuggling.
The Ministry of Industry and Trade has recently announced that there are new cement investment projects estimated at $700 million and capable of producing three million tons, and iron projects with the potential to produce 300 thousand tons of steel a year.
The availability of these investment opportunities must be promoted to gain the attention of foreign investors.
Members of the Economic and Industrial Committee of the Shura Council recently discussed industrial hindrances with officials at the Ministry of Industry, the General Authority for Investment, and a number of businesspeople. The participants called on relevant parties to work to advance the industrial sector, setting up a joint committee with the private sector to study the possible solutions.