10 Arab and foreign investment projects cost YR 23 billion

The total Arab and foreign investment projects in Yemen at the second quarter of this year were 10 at a cost of YR 23.

The Investment Authority Information Department’s  statistics revealed that the projects were distributed over a number of economic sectors including 7 in the industrial sector, costing YR 22 billion and YR 11 million, two projects went to the service sector at a cost of YR 55 million and one project to the agricultural sector, costing YR 27 million. 

Saudi Arabia ranked first among the investors by funding a project costing YR 19 billion and 200 million; China ranked second financing a project at a cost of YR 2 billion and 595 million. The Iraqi investments ranked third by financing two projects costing YR 713 million. Each of Pakistan, Jordan, Lebanon and Sri Lanka financed one project.

The Government took a number of measures which aim at attracting foreign and Arab investments, by granting the foreigners to own the projects and its lands at 100 percent, in addition to facilities of tax, fees and customs exemptions. 

Economic experts are expecting an influx of capitals due to completion of establishment of a number of industrial zones in some governorates, which will contribute to attracting Arab and foreign capitals.

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