YEMEN TO IMPLEMENT NATIONAL STRATEGY TO BOOST NATIONAL ECONOMY

TUNISIA, March 31 (Saba) - Yemen intends to implement an investment
promotion national strategy to boost the national economy, Head of
General Investment Authority (GIA) Salah al-Attar has said.

The statement came during the participation of Yemeni delegation in
meetings gathered the working group investment promotion project
between Economic Cooperation Organization and Development (OECD) and
Middle East and Northern Africa (MENA) states, which were kicked off
last Monday in Tunisia.

The strategy is to focus on establishing local plants to produce
consumer goods and building materials to replace imports in addition
to support all exports, especially to GCC countries to boost balance
of payments, strengthen local currency, fix exchange price, al-Attar
said.

He confirmed the importance of supporting small and middle-sized
enterprises in Yemen to realize sustainable social and economic
development.

He highlighted the significant role the small and middle-sized
enterprises play to create job opportunities and provide the local
markets' needs and export as well, indicating to the importance of
creating a legislative and institutional structure to encourage
setting up such enterprises and helping them to get suitable funds
and necessary guarantees to succeed.

Al-Attar said that Yemen would work in cooperation with OECD and
other corporations to implement programs and projects to activate
this vital sector.

The GIA exerts more efforts in cooperation with private sector and
some international financial institutions to establish a fund run by
the private sector to finance small and medium-sized enterprises, he
said.

During the meetings, al-Attar reviewed the reforms and measures
implemented by the government for improving investment environment.

The meetings discussed topics related to creating policies
supporting such enterprises and organizing projects and human
resources.

AF/AF