Yemen witnesses an increase of gulf investment projects |
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Eight Gulf investment projects were registered during the first quarter of 2009 in Yemen. A report issued by the General Investment AuthorityGeneral Investment Authority
(GIAGIA) showed that the projects worth about YR 7.7 billion were distributed between four Saudi projects and three Kuwaiti projects and one project for United Arab Emirates.Two of these Saudi projects were in the industrial sector and two are service industry sector. The Kuwaiti investment projects included an industrial sector project, a project in the tourism industry and another one in the field of agriculture. The UAE project was in the field of tourism.
In a related issue, the government approved, in its cabinet's meeting held on Tuesday, a number of investment projects in field of infrastructure.
These projects were presented by the Chairman of General Investment AuthorityGeneral Investment Authority (GIAGIA) and Shibam Holding Corporation.
Chaired by Prime Minister Ali Mujawar, the meeting directed concerned bodies to include their future needs required for carrying out infrastructure projects included in the package of the projects. Water, roads, electricity and telecommunications projects were given priority.
The cabinet authorized Chairman of GIAGIA to coordinate with concerned ministers and bodies to prepare mechanism for organizing measures and duties to provide services in locations assigned for investments and develop a timetable required for this regard.
© Yemen Observer 2009
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