Yemen's industry expected to grow by 6.6 % in 2011: DPMM says
The Source: sana'a/hadhramaut.info/sabanews.net - 03/03/2010
Home \
Local News
Yemen's industrial sector is expected to grow by 6.6 per cent in 2011, Malaysian Malay Chamber of Commerce (DPMM) president, Syed Ali Alattas has said.
In the Malaysia-Yemen Festival 2010 (MYF 2010) held in Kuala Lumpur on Tuesday, Alattas attributed the growth to the availability of raw materials and cheap labor force.
According to the Malaysian news agency (Bernama), he said that Malaysian companies should not neglect Yemen as they continue to diversify their export markets.Alattas described Yemen's location as strategic, saying that it is located close to the Gulf oil-producing countries and African markets in addition its Aden Port which is hosted one of the world's busiest shipping lanes.He said the Yemeni government has created a conducive environment for private sector investments to boost socio-economic growth.Taking about the investment opportunities available in Yemen he said that they are varied from assembling and manufacturing to heavy industry.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 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.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.
|