Business

Investments in Yemen Decline by 40.8%

National Yemen

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By NY Staff

Yemen’s General Authority for Investments released a detailed report of Yemen’s investment activity in 2011 that detailed a 40.8% decline in investment projects in Yemen between 2010 and 2011 as a result of the political crisis.

The report cited 97 investment projects in 2011, compared with 164 investment projects in 2010. The value of the projects in 2011 represented a total of 181.5 million YR with fixed assets reaching 34.9 million YR. The projects provided 4,350 jobs that were mainly distributed among Kuwaiti, Emirati, Saudi, Egyptian, Roman, Chinese, Turkish, Indian, Uzbekistan and American citizens[LD1] .

Speaking about the report, Mohammed Ahmed Hussein, Head of Investment Promotion at the General Authority for Investments, said that the 4th quarter of 2011 included 14 of last projects totaling more than 10.5 billion YR.

In categorizing the 2011 4th quarter investment projects by sector, the industrial sector recorded six investment projects, followed by the service sector with five projects. The fishing sector recorded two investment projects, while the tourism sector ranked last with one investment project. These projects were distributed throughout seven governorates and provided 505 jobs.

Sana’a received 86.9% of the total capital of investments in 2011 – the highest rate of all the governorates.   Taiz followed in a distant second with 7.1%, with Hadramout, Marib and Al-Mahara combined received 1.6% of total investments. Hodeida and Dali received .7% and .3%, respectively.

The data for the report was successfully compiled with the support of a training program for the General Authority’s staff in Egypt.