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.
- No sun on MENA's economic horizon? How today's political turmoil is crushing region's future edge in the global economy
- Why Egypt's army is bad at doing business
- Saudi Arabia's mass deportations reveal the horrifying reality awaiting Yemenis sent home
- Wiil they now be blamed for 'child unemployment'? Syrian minors now constitute majority of Jordan's working children
- Is MENA up to meeting the demand of creating 40 million new jobs?