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

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: May 25, 2018
INTERNATIONAL. AI is creating jobs, yet 80% of respondents say there is a lack of talent to fill positions; More than 50% of respondents use AI to improve products and increase efficiency; C-suite support and performance metrics are needed to scale AI strategies.
date:Posted: May 24, 2018
UAE. 10% of the total real estate debt market could come from private providers within the next decade; Report outlines how diversified debt sources and alternative financing structures will boost lending competition and in turn inject new capital into the real estate market.
date:Posted: May 24, 2018
INTERNATIONAL. The more "human" our solutions, the greater chance we'll be building monuments that become meaningful parts of people's lives and not just monoliths.
INTERNATIONAL. AI is creating jobs, yet 80% of respondents say there is a lack of talent to fill positions; More than 50% of respondents use AI to improve products and increase efficiency; C-suite support and performance metrics are needed to scale AI strategies.
dhgate