Investment Magazine / Special
The capital city of Sana’a witnessed the launch of the National Initiative to Support Yemeni Products on Sunday, December 8, 2024. The event was organized by the Yemeni Consumer Protection Association in coordination with the Ministry of Economy, Industry, and Investment under the slogan "My Product, My Nation." The initiative was inaugurated under the patronage of Prime Minister Ahmed Ghaleb Al-Rahwi, with the presence of the Chairman of the Shura Council and several official and economic figures.
The initiative aims to bolster the national economy by protecting and encouraging local products, fostering the development of national industries, and increasing Yemeni consumers’ confidence in the quality of local goods. It serves as a cornerstone for directing investments towards productive and industrial projects, achieving self-sufficiency in various sectors.
The initiative aligns with the government’s efforts to support national industries and reduce dependency on imports. Prime Minister Ahmed Ghaleb Al-Rahwi highlighted during his speech at the event that this initiative is part of the government’s strategy to enhance partnerships with the private sector and achieve sustainable development. He emphasized that supporting local products contributes to improving citizens' incomes and strengthening the national economy to face current economic challenges.
Engineer Moeen Al-Mahqari, Minister of Economy, Industry, and Investment, noted that the ministry recently succeeded in localizing cement production, saving approximately $70 million previously spent on imports. The ministry also aims to promote self-sufficiency in other fields, such as clothing manufacturing, which will create job opportunities and reduce unemployment.
Ali Mohammed Al-Hadi, Chairman of the Chamber of Commerce and Industry in the Capital Secretariat, underscored that supporting local products is a crucial step toward advancing the national economy. He stressed the importance of collaboration between the government and the private sector to expand local and international markets for Yemeni products.
Participants from both the public and private sectors called for intensified efforts to support Yemeni products by improving infrastructure for local industries and providing incentives for investors. They also emphasized the importance of promoting national products domestically and abroad and leveraging local resources to boost the economy.
In conclusion, Fadhl Mansour, Chairman of the Yemeni Consumer Protection Association, urged all stakeholders to unite efforts to achieve the initiative’s goals. He affirmed that it represents a unique opportunity to enhance national industries and raise awareness of the importance of supporting Yemeni products.
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