Malaysia shows success story in Sana’a

Since the Yemeni-Malaysia festival in February efforts to strengthen the two countries alliance have been strongly implemented.

Prime Minister Ali Mujawar affirmed that Malaysian investment would be supported and carried by the government of Yemen.
 
During the opening of the Malaysian-Yemeni Festival 2010 in Sana’a last Wednesday, Mujawar confirmed that the festival is the fruit of Yemen-Malaysian economic cooperation.
 
“Yemen has carefully followed the great success Malaysia has made in various areas, particularly in economy and knowledge,” the Premier said. “We hope that we can gain benefit from their successes in our country.” Mujawar added that he hopes that the festival would assist Yemeni businesses gain insights from the great Malaysian experience.
 
“It is an opportunity to avail from the Malaysian experience, to strengthen the Yemeni development strategy and enhance Yemeni products’ competitiveness in foreign markets,” Mujawar said.
 
“Through this festival, we aim to support entrepreneurs and the exchange of experiences. Specifically, we seek to renew the old Yemeni-Malaysian commercial ties,” he said.

The government’s attention is currently focused on realizing social development while creating a useful investment environment. Such measures are managed through managerial, financial and economic reform programs that the government has adopted since 1995.

He also indicated a partnership between the government and the private sector. “The government enhanced this partnership in recent years to allow the private sector to play a major role in the development of several areas, including oils, minerals and all service sectors.”

Mujawar invited the Malaysian investors to explore Yemeni opportunities, especially where qualitative investment opportunities are available, such as the Aden Free Zone. He also encouraged Malaysian investors to avail to the merits and advantages of foreign and Arab investments in Yemeni Investment Law.

The Malaysian-Yemeni Festival was inaugurated in the Sana’a Expo Center with the participation of over 100 Malaysian firms.

The Chairman of the General Investment Authority (GIA), Salah al-Attar, described the exhibition as an opportunity to enhance trade ties between Yemen and Malaysia, thought bilateral discussions among Yemeni and Malaysian businessmen.

Ali Alatas, Chairman of the Malay Chamber of Commerce, felt that the exhibition would be the main gate through which Malaysian services and products could enter the Yemeni market, as well as being an opportunity for Malay firms to investment opportunities in Yemen.

Over 100 Malaysian firms are scheduled to take part in the Exhibition, continuing through to March 20 in Sana’a.

Salah al-Attar, Chairman of the GIA, confirmed that there are specialized commissions formed by the government currently studying the qualifications necessary Yemeni’s desiring to work in the Gulf States and many countries in Asia, including the Malaysian labor market.

Sa’aid Ali Alatas, the Chairman of the Malay Chamber of Commerce, said that Malaysian investors are attracted to Yemen due to the similarities and convergences between the two countries and two peoples. He described how the Malaysian experience is ready to provide expertise in the areas of technology and industry, as well as provide higher education to the Yemeni side, as a part of the mutual benefits of trade and investment between the two countries.

The Malaysian Ambassador in Yemen confirmed that Yemen is still a virgin land, where investment opportunities are widely available. He promised that he is working diligently to attract Malaysian investors to Yemen as well as for the exchange of products and goods in both countries.

Yemeni ambassador to Malaysia Abdullah al-Muntasir underscored that the festival aims to boost bilateral ties between the two countries in order to encourage Malaysian products within the Yemeni markets.

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

These statistics also showed that current Yemeni investment in Malaysia reaches $15.5 million within the mining and tourism spheres.

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