Malaysia boosts investment

The biggest Malaysian exhibition commences activities in Sana’a.

Over 100 Malaysian firms are to take part in the biggest Malaysian Yemeni Exhibition on March 17 to March 20, in Sana’a. The festival is to be inaugurated by the Prime Minister, Dr. Ali Mohammed Mujawar, on Wednesday March 17, 2010 in Sana’a Expo Center.

Salah al-Attar, chairman of the General Investment Authority (GIA) said that there are specialized commissions formed by the government currently studying on the qualification of Yemeni labor to join the labor market in the Gulf States and many countries in Asia, including Malaysia.

Ali Alatas, the Chairman of the Malay Chamber of Commerce said that Malaysian investors are attracted to Yemen is the similarity and convergence between the two countries and two peoples, adding that the Malaysian experience is ready to provide expertise in the areas of technology and industry, higher education to the Yemeni side as a part of the mutual benefits of trade and investment between the two countries.

Al-Attar said that there are more than three hundred thousand families Malaysian assets back to Yemen, including the families occupy positions of political and big business.

For his part, the Malaysian Ambassador in Yemen confirmed that Yemen is still virgin land, and investment opportunities widely available to invest in Yemen and is working to attract Malaysian investors to Yemen and the exchange of products and goods in both countries.

“The president has outlined ten priorities including rehabilitation of the Yemeni labor in foreign markets, according to this action the committees had been formed to select the target countries and examine the requirements for the rehabilitation work and the employment Yemeni commensurate with those requirements,” said Al-Attar in answer to Yemen Observer’s question in a press conference held in Sana’a with the Ambassador of Malaysia and the Malay Chamber of Commerce Chairman Ali.

“We expect contribute from Malaysia in attracting Yemeni employment because of the similarity of historical and cultural heritage between the two countries,” al-Attar said.

Yemeni ambassador to Malaysia Abdullah al-Muntasir has revealed that over 100 Malaysian companies would take part in the Yemeni-Malaysian Festival 2010.

Al-Muntasir pointed out that the festival aims at boosting bilateral ties between the two countries in order to encourage Malaysian products in the Yemeni markets.

He also considered this festival as a good opportunity to create a networking between Malaysian and Yemeni businessmen.

“The festival will open a new horizon of investment fields between the two sides through participation of many trade and industry firms representatives of Malaysia”, he added.

The Yemeni diplomat highlighted that the Malay Chamber of Commerce and Industry Syed Ali Al Attas will attend the festival.

Yemeni investments in Malaysia have started when HSA Group had launched its economic and trade activities in 1989 in the fields of vegetable oils and food in Malaysia.

According to 2008 statistic, the investments between Yemen and Malaysia raised from $ 47.7 million in 1990 to $ 401.8 million in 2008.

The statistic showed that the current Yemeni investment in Malaysia reaches $ 15.5 million in mining and tourism spheres.

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