PROCEDURES TO SET UP $ 1 BLN FISHERY PROJECTS DISCUSSED

SANA'A, Feb.10 (Saba) - Minister of Fisheries Mohamed Shamlan met
here on Wednesday with General Managers of the Saudi National Prawn
Company (NPC) and the Global MAM Corporation.

In the meeting, Shamlan discussed with the two managers the
practical procedures to implement investment projects in the fields
of Shrimp aquaculture and catching fish in the Red Sea area with a
cost of $1billion.

These projects come within the implementation of the memorandum of
understanding signed between the two sides in July 2008, including
the cooperation in fields of fisheries exports development, shrimp
aquaculture, and setting up projects in field of fish farming,
fisheries industries and coastal and industrial fishing.

Furthermore, the projects to be carried out by the company and the
corporation include establishment of laboratories and centers
equipped with the latest techniques in compliance with the global
standards to prepare and develop the fish exports, and operating a
number of industrial fishing boats in the economic zone as well as
exchanging the global information and experiences that regulate the
fisheries activities and the fisheries resources management and
development.

Shamlan pointed the importance of these projects in the fisheries
sector development in Yemen through operating a huge number of
laborers in the coastal areas, affirming the government's keenness
to attract more investments in this sector as it is an important and
promising sector and a main resource for the national economy.

"The state will present all kinds of support to the projects",
confirmed Shamlan calling upon the global investment companies to
avail from the investment opportunities in the fisheries sector in
Yemen as well as the advantages of the Yemeni investment law in this
regard.

BA