In The Media

Yemeni Minister: $88 Billion in Possible Resources to Rebuild the Country

Written by NY Staff

Riyadh– Yemeni Industry and Trade Minister Mohamed al-Maitami said that the public sector was a major part in Yemen’s recovery and reconstruction program, noting that possible resources of a value of $88 billion have been dedicated to this sector to assume a key role in the implementation of rebuilding projects.

In remarks to Asharq Al-Awsat newspaper, Maitami said that the national reconstruction and recovery detailed plan, which was discussed in the Saudi capital Riyadh earlier in May in the presence of international organizations and donor countries, has highlighted possible resources worth around $88 billion and has set Yemen’s private sector as the executive body to implement the program.

“What is most important about this plan is that the private sector will have a central role in the execution of projects,” he stated.

“The private sector is the only economic and social institution that can rebuild the country and promote its flourishing and prosperity,” he added.

Maitami, who has met earlier this week with a number of Yemeni businessmen in Jeddah, said that he had presented plans to gather resources and capabilities of the Yemeni private sector, in addition to support from Saudi Arabia and the Gulf Cooperation Council (GCC) to implement the recovery program.

He noted that the plan, which is adopted by the Yemeni government represented by the ministry of industry and trade, would be divided into several phases, beginning with an urgent phase that would tackle poverty and food insecurity across the country.

The Yemeni minister said he hoped the private sector would actively contribute to the reconstruction efforts, stressing in this regard that the Yemeni government and regional and international partners understand well the concerns of the sector and its need to have security guarantees for their investments.

Original Article