Saudis to invest US$1 billion in Yemen
Saudi investors intend to pump over the next five years US$1 billion dollars in new investments in several Yemeni cities. This came as Yemeni President Ali Abdullah Saleh has vowed to provide all the moral and legal support to open new doors for Saudi investors.
These investments are to be directed to the cities of Hadhramaut, Sana'a, Aden, Hodeidah, Ibb, Taiz, Abyan, and the Yemeni islands, especially Socotra and Kamran.
According to Al Arabiya, President Saleh met recently a delegation of businessmen and investors from Saudi Arabia. The delegation is headed by Abdul Rahman Al Jeraisy, Vice Chairman of the Federation of Chambers of Commerce in the Kingdom.
- Kuwait fights budget deficit: Reexamining government salaries, expatriate labor
- Businessmen tortured in UAE
- State of the Arab World Economy report 2016: diversify, tax, slash subsidies
- Arab investors won't dump the Trump despite anti-Muslim remarks
- UAE economy minister projects high growth despite oil prices
- Emaar Properties mandates Citigroup to arrange US$1 billion debut Islamic facility
- Over US$1 trillion committed to developing the region’s Leisure Landscape
- Etihad Airways passenger revenue exceeds US$1 billion, passenger numbers over 3 million in third quarter 2013
- GE drives sustainable growth goals of the Middle East with US$1.8 billion investment in clean technology research