ID :
109527
Wed, 03/03/2010 - 14:14
Auther :
Shortlink :
https://oananews.org//node/109527
The shortlink copeid
CHAMBER: YEMEN A STRATEGIC LOCATION FOR INVESTMENTS
KUALA LUMPUR, March 3 (Bernama) -- Malaysian companies should not neglect Yemen as they continue to diversify their export markets, said Malaysian Malay Chamber of Commerce (DPMM) president, Syed Ali Alattas.
He said Yemen was strategically located adjacent to the oil-producing countries
of the Gulf and African markets and its Aden Port along the southern tip of the
Arabian Peninsula hosted one of the world's busiest shipping lanes.
"There is a wide range of products that Malaysia can export to Yemen," he told a
media briefing on Malaysia-Yemen Festival 2010 (MYF 2010) here Tuesday.
Syed Ali said the Yemeni government has created a conducive environment for
private sector investments to boost socio-economic growth.
He said Yemen's industrial sector was expected to grow by 6.6 per cent in 2011
because of the availability of raw materials and cheap labour force.
"There are vast investment opportunities available -- from assembling and
manufacturing to heavy industry.
"With a population of 23 million, a strong demand for training in every sector
of business is expected as the country needs an educated workforce. This will
provide vast opportunities in the training and education sectors," he said.
Bilateral trade had grown steadily over the past decade.
Malaysia's exports to Yemen rose to US$335 million in 2008 from US$44.6 million
in 1990 while imports increased to US$46.8 million from US$3.1 million.
To date, Malaysian investments in Yemen are worth US$15.5 million, mostly in
minerals and mining sectors.
Syed Ali said MYF 2010 would be held from March 17-20 at the Sana'a Expo Centre.
He said the festival, held to celebrate the growing bilateral ties and promote
economic development in both countries, would encourage Malaysian entrepreneurs
to explore trade and networking potentials.
"The MYF 2010 will be a gateway to business networking and investment
opportunities in Yemen, which is still an undiscovered country, a place full of
opportunities where Malaysian investors can be pioneers," he said.
-- BERNAMA
He said Yemen was strategically located adjacent to the oil-producing countries
of the Gulf and African markets and its Aden Port along the southern tip of the
Arabian Peninsula hosted one of the world's busiest shipping lanes.
"There is a wide range of products that Malaysia can export to Yemen," he told a
media briefing on Malaysia-Yemen Festival 2010 (MYF 2010) here Tuesday.
Syed Ali said the Yemeni government has created a conducive environment for
private sector investments to boost socio-economic growth.
He said Yemen's industrial sector was expected to grow by 6.6 per cent in 2011
because of the availability of raw materials and cheap labour force.
"There are vast investment opportunities available -- from assembling and
manufacturing to heavy industry.
"With a population of 23 million, a strong demand for training in every sector
of business is expected as the country needs an educated workforce. This will
provide vast opportunities in the training and education sectors," he said.
Bilateral trade had grown steadily over the past decade.
Malaysia's exports to Yemen rose to US$335 million in 2008 from US$44.6 million
in 1990 while imports increased to US$46.8 million from US$3.1 million.
To date, Malaysian investments in Yemen are worth US$15.5 million, mostly in
minerals and mining sectors.
Syed Ali said MYF 2010 would be held from March 17-20 at the Sana'a Expo Centre.
He said the festival, held to celebrate the growing bilateral ties and promote
economic development in both countries, would encourage Malaysian entrepreneurs
to explore trade and networking potentials.
"The MYF 2010 will be a gateway to business networking and investment
opportunities in Yemen, which is still an undiscovered country, a place full of
opportunities where Malaysian investors can be pioneers," he said.
-- BERNAMA
