[13 September 2005] By Abdul-Salam Al-Korary.

President of the General Investment Authority (GIA) Mr. Abdul-Karim Muttair revealed to Sabanet that the (GIA) plan for 2005 includes a promotion program for corporate invested enterprises in tourism and producing electronic calculator machines, besides the new invested opportunities in the Yemeni Islands.

Muttair stated to Saba News Agency that strategies designed to attract the foreign investments had managed to achieve a progression reached up to 41% for the first time in Yemen.

He also revealed that the Saudi investments amount had risen last year to come up to more than (500US$) million dollar. Some (300US$) million dollar allocated for setting up two factories for producing cement.

Around (100US$) million dollar used for establishing the Saudi Yemeni hospital. An equal sum was allotted for building the two hotels of the Mofenbeek Sana,a and the Holiday in Hudhramout.

"I do expect that the Saudi investments would help further attracting the investments from Gulf states and other Arab countries".Muttair said

Muttair stated that the (GIA) had signed on (38) promotion agreements with many countries around the world. He also indicated that there are several investment enterprises such as setting up yields storages, mills and producing tiles and granites

The number of investment enterprises which had been licensed by the (GIA) last year came up to (362) projects in the productive and services sectors with a total cost estimated at (114 YR) billion.

The (GIA) annual report indicated that the investment enterprises distributed as follow: Capital Secretariat (186), Aden (66) , Hodeidah (45) , Hudhramout (36) and Taiz (26). These projects created approximately (10,893) job opportunity.

The investment projects distributed between the productive sectors as the following:

Industrial sector came the first with (194) ventures totaling up to(76YR) billion. Agricultural projects reached (23) with a total cost approximated (3YR) billion. Fishery (9) projects calculated some (6YR) billion.

Services sector gained (81) projects with a total sum counted about (23YR) billion. Tourist enterprises came up to (55) with overall cost exceeded (7YR) billion.

It is a well worth mentioning that the general investment authority in 2003, had issued licenses for around (338) invested projects with a total cost reached (106YR) billion. Those enterprises had created nearly (9000) job opportunities.
Saba