DRAFT STRATEGY OF MINING SECTOR APPROVED

SANA'A, May 11(Saba) – The Cabinet approved on Tuesday the draft strategy of the mining sector in Yemen, presented by Ministry of Oil and Minerals.

The draft strategy of the mining sector has been prepared by the Geological Survey and Mineral Resources Board (GSMRB) in cooperation with the United Nations Economic and Social Commission for Western Asia (ESCWA).

The Cabinet directed to preparing projects that translate this strategy into practice and to be included in the fourth five-year plan for economic development 2011-2015 and its annual programs.

The strategy is based on a set of policies and programs aiming to promote the mining sector in Yemen to serve the development and the national economy through the optimum exploitation of the mineral resources, including the precious and industrial minerals.

It also includes developing the industrial sector, including the required diversification in the development tools of Yemen human resources in the scientific and technical field, so as to support and develop the appropriate manpower for the mining sector and the process of manufacturing associated with it.

Moreover, the strategy included options for developing the mining sector and its legislative, institutional, financial and service requirements, as this is one of the most important cornerstones for the success of development plans for this sector and to implement the State's policies to promote the alternative sectors, including the development of non-oil exports and the achievement of the required balance in the balance of payments at the medium term and long-term.

BA