$ 11 billion in foreign investments in Yemen during 2006-2008

SANA'A, Dec. 21 (Saba) –Foreign investments in the country amounted
to $ 11 billion over the last three years, head of the Investment
General Authority has said.

The GPC-run almotamar.net quoted Salah al-Attar as saying on the
margins of a Yemeni-Malaysian Investment Symposium, almost $ 11
billion in foreign investments were brought in during 2006-2008.

These investments were established at various sectors most important
of which were the fisheries, industrial, tourist and exploring
minerals areas, al-Attar said.

However, 50 % of total foreign investments in Yemen were in the
liquefied natural gas area, he added.

He made clear foreign investments increased during the current year
by 7 percent, pointing out that the increase was due to recent
measures taken by the government to ease the process of establishing
investment projects such as amendments to the investment law, the
issuance of corporate establishment law and tax exemptions.

These steps helped Yemen's ranking raise from 123rd place in 2007 to
98th in 2008 according to the WB reform indicators, he said.

Al-Attar said the government is about to introduce new amendments to
investment laws by early next year in an effort to attract more
foreign capitals into Yemen, affirming developing the investment
sector has become a strategic choice to down unemployment and reduce
poverty.