PM unveils investment roadmap for promising sectors, in collaboration with Yemen’s development partners.

In a significant move towards economic diversification and enhancement, Dr. Ahmed Awad bin Mubarak, the Prime Minister of Yemen, has announced the government’s plan to prepare an investment map. This strategic initiative aims to foster development in promising sectors, including the fisheries wealth, in collaboration with Yemen’s development partners.

Private Sector: A Key Partner in Strategic Investments

Dr. Mubarak emphasized the vital role of the national private sector as a fundamental partner in establishing strategic investments. He highlighted the importance of creating partnerships with fellow countries, friends, and international financing institutions to leverage the investment potential in promising sectors. This approach is intended to develop and expand the quality of investments.

A Comprehensive Meeting in Aden

The announcement came during a comprehensive meeting chaired by the Prime Minister on Tuesday in the temporary capital, Aden. The meeting gathered leaders from the Ministries of Agriculture, Fisheries Wealth, Water and Environment, Industry and Trade, the General Investment Authority, heads of the General Authorities for Fisheries, and the Aden Chamber of Commerce and Industry, along with several private fish milling factory owners.

Focused Discussions on Fisheries Sector

The Prime Minister received updates from the Minister of Agriculture, Irrigation, and Fisheries Wealth, Salem Al-Socotri, and fish milling factory owners on discussions regarding the ministerial decision to prohibit the establishment of private fish milling factories. The aim is to achieve effective control and rectify the conditions of existing factories to optimize the benefits from the fishery wealth and preserve the fish stock.

Government’s Strategic Direction

Dr. Mubarak stressed the government’s strategic direction to correct existing issues in the investment environment in partnership with the private sector. He welcomed and encouraged investments in various fields, including the fisheries sector, underlining the necessity to diversify and distribute these investments while adhering to the laws and regulations aimed at organizing fishing activities and investments in the sector.

Calls for Corrective Measures and National Responsibility

The Prime Minister directed the Ministry of Agriculture, Irrigation, and Fisheries Wealth to correct the situation and implement regulatory controls for investment and fishing activities. He highlighted the importance of national responsibility in these exceptional circumstances and the need for serious efforts to address imbalances. He also pointed to government efforts to strengthen the fisheries sector’s infrastructure in coordination with donor countries and organizations, supporting projects related to food security and maximizing the benefits of local resources to alleviate poverty.

Proposals and Coordination Mechanisms

The meeting discussed various ideas and proposals related to investment and development in the fisheries sector. A committee was formed from relevant ministries and the General Investment Authority to develop proposals for dealing with fish milling factories, ensuring the preservation of fish stock. This committee will hold a technical meeting with the private sector to discuss proposals and agree on recommendations to be submitted to the Prime Minister for approval.

The meeting was attended by key government officials, reflecting a collective commitment to enhancing Yemen’s economic landscape through strategic investments and partnerships.

This initiative represents a critical step towards revitalizing Yemen’s economy, focusing on sustainable development and efficient resource management in promising sectors.

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