Investment Magazine | Special Report
In a strategic move to support the national economy and enhance the investment environment in Yemen, the Ministry of Economy, Industry, and Investment held a significant workshop in the capital, Sana'a, on Saturday, January 25, 2025. The workshop focused on discussing and approving the final draft of the Economic Stimulus Program, which represents an ambitious vision for achieving sustainable development. The event was attended by the Minister of Economy, Industry, and Investment, Engineer Maeen Hashem Al-Mahaqari; the Minister of Transport and Public Works, Mohammed Qaheem; and the Minister of Oil and Minerals, Dr. Abdullah Al-Ameer, along with several experts and government officials.
The attendees discussed the program's objectives, which aim to achieve comprehensive economic growth by activating untapped potential in the national economy, building the confidence of local and international investors, and attracting capital to promising investment projects. The program also seeks to enhance local value addition, reduce dependence on imports, and support locally produced goods.
Engineer Maeen Al-Mahaqari explained that the program aligns with the new Investment Law, which creates a favorable environment for investment through incentives such as tax exemptions, facilities for local manufacturers, and renewable energy projects. He noted that the program constitutes an integrated plan to achieve a comprehensive economic transformation. The minister emphasized the importance of governmental cooperation across various sectors to develop detailed and precise execution plans to ensure the program's success.
Meanwhile, the Minister of Transport, Mohammed Qaheem, underscored the necessity of infrastructure development to support trade and investment. He highlighted efforts to expand the berths at Hodeidah Port and construct additional berths to accelerate cargo unloading operations, alleviating burdens on importers and boosting economic activity.
For his part, the Minister of Oil and Minerals, Dr. Abdullah Al-Ameer, praised the program for its focus on utilizing mineral resources and stimulating investment in renewable energy. He emphasized the significance of integrating efforts between the public and private sectors to support sustainable development.
The workshop concluded with an open discussion among representatives of participating entities, during which valuable insights were presented to enrich the final version of the program. The announcement of future follow-up sessions with relevant authorities was also made to establish detailed and actionable implementation plans.
This economic stimulus program marks a transformative step in efforts to enhance Yemen's economy, attract investments, create job opportunities, and achieve sustainable development despite current challenges.
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