Yemen looks to diversify its economy
Source: BI-ME , Author: Posted by BI-ME staff
Posted: Sun October 24, 2010 5:43 pm
china wholesale market

YEMEN. Yemen plans to diversify its economy which is currently heavily dependent on the oil and gas sector by investing in its 'unique natural resource base,' according to a Yemeni oficial.

Salah Al-Attar, chairman, General Investment Authority, Republic of Yemen, said he is looking to diversify Yemen's economic portfolio to complement its current reliance on oil and gas and its related industries and support ecosystem. He pointed to his government's structural and legal reform program, adopted in 2008, which  aims to attract foreign direct investment and private sector development.

“With oil and gas, and related industries making up 75% of Yemen's GDP and 90% of its exports, there is a need to energize other sectors and bring them into a more productive state of being,” said Al-Attar.

“Our plan is to increase our efforts in the oil and gas sector, and at the same time, invest in our unique natural resource base, from mining minerals, making our agricultural sector more efficient and effective, and supporting eco tourism projects,” Al-Attar added.

The comments came at the 3rd International Yemen Oil, Gas and Minerals Conference (YOGM Conference) in Sana'a, Yemen. The conference was attended by leading local, regional and international oil and gas companies.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: July 31, 2015
INTERNATIONAL. "We can forecast with certainty the fears of a global market panic extending far beyond the strength or weakness of China's equity markets," says Gerald Celente.
date:Posted: July 31, 2015
INTERNATIONAL. "If the customer is not the key focus in all activities, whether it is improvements in delivery times or query resolution processes, efforts are wasted."
date:Posted: July 31, 2015
INTERNATIONAL. New research from PwC projects that traditional assets under management (AuM) in 12 markets across Africa will rise to around US$1,098 billion by 2020, from a 2008 total of US$293 billion.
INTERNATIONAL. New research from PwC projects that traditional assets under management (AuM) in 12 markets across Africa will rise to around US$1,098 billion by 2020, from a 2008 total of US$293 billion.
dhgate