Local News

More than 27 thousands Industrial installation in Yeme

The last results of the comprehensive industrial survey, which was implemented by the Ministry of Industry and Trade in collaboration with the Central Bureau of Statistics, revealed that the number of the working establishments in the industrial sector reached to 27796 facilities in 2010.  There are 18.6 from the total number of establishments, followed by Taiz province by 13.93%, and then Ibb governorate by 12.24%, while the rest were distributed among the other provinces.

The Undersecretary of the Ministry of Industry & Trade, and the assistant of vice president of industry technical committee for survey explained that the secretariat of the capital and the provinces of Taiz, Ibb, Dhamar, Hadramout, Sana’a and Hodeida has absorbed about 70,86% from the total of the industrial installations in Yemen.

He pointed out that the total value of the invested capital in the transformational Industrial installations, electricity and water installations reached to almost 1654 billionYR by an average of 59.21 million riyals for each installation.

According to the Undersecretary of the Ministry of Industry and Trade, most of the sources of funding for capital investment in these installations are self-sourced by 83.08% of the total value of capital, followed by funding of Shared Resources by 9.09% and 7.84% from other sources.

On the other hand, Vice Chairman of the board of Commerce and Industry Chamber in Sana’a, Mohamed Mohamed Salah, said that 181 Investment companies in the Yemeni markets went to invest outside Yemen, because of the difficulties in the environment today.

Salah revealed that the total value of capital and the property of these companies reached to $7 billion and 90% of them owned by Yemeni investors while the rest are owned by foreigners.

” The absence of security and stability in the country, and the infringements on the rights and property of investors, as well as the weakness of the judicial system to achieve justice  are the main reasons for the departure of investors,” Salah stated.

Salah called the government to create the appropriate environment for investors and to start achieving this seriously, because the stealing and looting of businessmen and investors happen every day.

“The Yemeni investors left to safer countries which have cataleptic rules for investors such as, China, Malaysia, United Arab Emirates, Indonesia, Jordan, Sudan, Djibouti, and Ethiopia,” Salah emphasized.

Salah added, “in china, Yemeni investors get privileges and benefits such as, free land for a year, electricity will be on 24/7, also transportation system and stability.

Saleh urges government to stop issuing the new rules that aren’t suitable to the real Investment environment, especially the rules which lead to impose extra charges for commercial, industrial, and service sector in Yemen.