Investment Magazine / Special
The special parliamentary committee continued its meetings today, Tuesday, December 10, 2024, chaired by the Deputy Speaker of the House of Representatives and Committee Chairman, Abdul Rahman Al-Jama'i.
During the meeting, government representatives including Minister of Economy, Industry, and Investment, Engineer Maeen Al-Mahaqiri, and the Chairman of the General Investment Authority, Yasser Al-Mansour, were present. The committee continued its discussions on various articles of the Investment Law Draft.
The discussions mainly focused on articles aimed at encouraging and protecting local production and developing exports to support and protect local agricultural, livestock, and fishery products, as well as boosting local industries to achieve self-sufficiency. There was also emphasis on the importance of implementing effective protection measures for local products against imported goods.
In the discussions, committee members stressed the need for strict enforcement of approved specifications and standards, and the prevention of any products that do not meet these standards from entering the market.
The role of the General Investment Authority was also highlighted in preparing, developing, and implementing a national investment promotion strategy aligned with the country's economic growth plans. This strategy aims to enhance the positive image of the Republic of Yemen as an attractive investment destination, in addition to issuing lists of the fixed assets required for investment projects.
The Authority's responsibilities include conducting research and studies on the investment climate, preparing economic feasibility studies for priority investment projects, and providing necessary proposals and recommendations. They also discussed preparing a comprehensive map of available investment opportunities in Yemen and setting priorities based on a fair system that ensures optimal distribution among sectors, with an emphasis on sector integration and encouraging investments for the localization and transfer of industries that rely on local resources.
The discussions also underlined the importance of providing incentives and advantages to attract investments in industries based on local resources. Furthermore, the committee emphasized the need to allocate suitable lands for investment projects and the creation of specialized industrial, economic, and development zones to help establish productive clusters.
The special parliamentary committee will continue its discussions on the articles of the law tomorrow, Wednesday, with the participation of government representatives.
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