Impediments Behind Investment in Yemen
Local and foreign businessmen often complain of shortcomings of the investment law and the difficulties they find when executing their projects, Yemen Times reported Monday.
The investment law was issued in 1991. Although it has been amended on some occasions, said the paper, complaints have never stopped.
During the past seven months, the General Authority of Investment has licensed 277 projects whose worth is estimated at 40.5 billion rials. Those projects are expected to provide about 7225 jobs, the daily said.
Investors seem to concentrate on three main areas; industry, services and tourism, avoiding investing in other domains that should top investment priorities, the paper said, giving an example, as only 190 agricultural projects and 67 projects exploiting marine resources have been licensed during the same period. Some of them have not even been initiated -- Albawaba.com
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