Yemen will back Malaysian investment: PM says

SANA'A, March 17 (Saba) - Prime
Minister Ali Mujawar asserted on Wednesday that the Malaysian investment is to be
supported and
cared by the government.
Mujawar said, during the opening of the Malaysian-Yemeni Festival 2010 in Sana'a,
that the festival is a fruit of Yemen-Malaysian economic cooperation.
Yemen follows up carefully the great success Malaysia has made in the various
areas, particularly in economy and knowledge, the Premier said pinning hopes that
the festival
would assist Yemen to benefit from the Malaysian great experiences.
"It is an opportunity to avail from the Malaysian experience to strengthen the
Yemeni development strategy and enhance Yemeni products' competitiveness in the
foreign markets"
Mujawar said.
The government intends, via this festival, to encourage the two countries'
investors to exchange experiences and revive old Yemeni-Malaysian commercial ties,
he said.
The government's attention focuses currently on realizing the economic and social
development and creating a competitive investment environment through carrying out
the
administrative, financial and economic reform program the government has adopted
since 1995.
He made reference to the partnership between the government and the private sector,
saying that the government has enhanced this partnership in the recent years to
enable
the private sector to play an efficient role in the development process and in areas
of infrastructure, agriculture, fishing, oils, minerals and all service sectors.
Mujawar said that Yemen has many qualitative investment opportunities either in the
Aden Free Zone or in other promising sectors, calling the Malaysian investors on
availing
from the merits and advantages for foreign and Arab investments in the Yemeni
Investment Law.
He reiterated the Yemen's desire for more economic and investment partnership
between Yemen and Malaysia, the PM said.
The Malaysian-Yemeni Festival was inaugurated in Sana'a Expo Center with
participation of over 100 Malaysian firms.
According to 2008 statistic, the investments between Yemen and Malaysia raised from
$ 47.7 million in 1990 to $ 401.8 million in 2008.
AF/AF