Posted in:
Business & Economy
Written By: Faisal Darem
Article Date: Dec 20, 2008 - 3:49:59 AM
The industrial sector forms 5.14 percent of gross domestic product (GDP)
The “Industry … The Future of Yemen” conference will be held in Mukallah Hadhramaut from December 22-23, 2008, said Omar Bajarsh, Chairman of the Hadramout Chamber of Commerce and Industry .
This conference is seeking to promote the slogan” Made in Yemen”, and will be organized by the Hadramout Chamber of Commerce and Industry, the Ministry of Industry and Trade and Yemeni Businessmen Club.
He confirmed that all preparations for the conference have been concluded, in particular the accompanying exhibition of Yemeni products and Malaysian companies specialized in manufacturing.
Bajarsh said more than 150 businessmen from outside of Yemen have confirmed their participation in the conference.
The conference’s goal is to search for strategic alternatives for the future of the Yemeni economy- particularly in the industrial sector. It will focus on preparing clear strategies for developing this sector as well as promoting industrial zones.
Bajarsh said this conference will benefit from the experience of former Malaysian Prime Minister, Dr. Mahathir Mohammad who will be in attendance along with several other well-known Malaysian businessmen.
Malaysian experience in this field has converted the country from a developing and agricultural economy into an advanced industrial economy, Bajarsh said.
He indicated that there were a number of similarities between Yemen and Malaysia before it became an advanced industrial economy.
The outcome of the conference may create an industrial strategy, improve existing industrial legislation, and attract the attention of the government and private sector to this vital sector- especially due to its importance in development.
For his part, Minister of Industry and Trade, Yahya al-Mutawakel pointed to the importance of creating confidence in local products, especially in light of trade liberalization and competition. He noted that these are challenges for the industrial sector, and so it must become competitive and gain the confidence of consumers without the need for protection.
He said that this conference will review many of the problems and obstacles facing the growth of industries, and seek to identify policies and factors for developing this essential sector. The industrial sector formed 5.14 percent of gross domestic product (GDP), and accommodated 3 .8 percent of the total labor force by the end of last year, al-Mutawakel said.
