Investment Magazine/Special Report
Minister of Economy, Industry, and Investment, Engineer Muin Hashim Al-Mahaqari, announced his ministry's commitment to contributing to the reopening of the Yemeni Textile Industries Company factory, which belongs to the private sector in the capital city of Sana'a. The reopening is planned for the near future, with an anticipated production capacity of 7 to 8 million meters annually.
The factory, owned by the Al-Rajawi Industrial and Commercial Group, is one of Yemen's key textile production facilities. However, it has been out of operation since 2015 due to the ongoing war in Yemen and rising production and fuel costs.
This announcement was made during Minister Al-Mahaqari's visit to the factory on Wednesday, November 27, 2024, during which he met with Mr. Nabil Al-Rajawi, the General Manager of the Yemeni Textile Industries Company. The minister expressed his regret over the prolonged shutdown of this significant production facility in recent years, emphasizing that the ministry will collaborate with the company’s management to restart the factory and activate all dormant industrial capacities. This falls within the framework of the economic stimulus program and support for national industries, aligning with the objectives of the Change and Development Government Program.
The minister stressed the importance of developing comprehensive plans to advance the textile sector in Yemen, working to ensure synergy between this factory and other production facilities in the textile and clothing manufacturing fields. The goal is to create an economic cycle that enhances the textile industry and meets the domestic demand for garments.
He also noted the exemptions granted to the local textile and garment industries and highlighted the advantages and facilities included in the new Investment Law, which aims to safeguard national capital and stimulate investment in this vital sector.
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