Yemeni-Jordanian fishing partnership [Archives:2002/44/Local News]

October 28 2002

The Red Sea Company, a Yemeni Jordanian company, has launched its activities after the King of Jordan put two new fishing vessels on the water this week.
The navy, supported by 20 boats and fish refrigerators for storage, is to practice its activities in Yemeni regional waters.
Muntasser Abu Abdullah, fishermen representative in Al Aqaba port, said that the new company is providing 100 jobs and the total storage capacity of each vessel is about 90 tons of fish.
“The company would export half of its production to Japan and will meet the consumers needs for fish in the Jordanian markets,” said Abdullah.
An officer at the company indicated that the company gross profit is between 30 % to 40 % and offers good salaries, US $500 US as a maximum.
The agreement is the first of its kind between Yemen and Jordan.
The company’s capital which amounts to US $8 million, half owned by the King Abdullah Fund, and the other half is owned by different Yemeni and Arab investors.
The company has rented the two fishing ships from a Saudi Company for six months. After that its up to the company to decide whether to buy them or to continue renting.
The Jordanian planning minister, the vice chairman of Abdullah Fund said that specialists in fishing and boat operations will train Jordanian fishermen in the coming days as a preliminary step towards the complete operation of the company.
Meanwhile, Al Aqaba Fishermen are suffering in unemployment and a shortage of fish storage space, as well as of security restrictions put on them by Jordanian and Israeli authorities in a narrow gulf like Al Aqaba.
The King Abdullah Fund which was established last year, is enhancing the private sector initiations and creating companies with it for finding jobs in different Jordanian governorates.