Investment Magazine / Special Report
Today, Thursday, November 21, 2024, His Excellency Minister of Economy, Industry, and Investment, Eng. Maeen Hashem Al-Mahaqari, brought together plastic manufacturers and importers from various Yemeni provinces in a consultative meeting aimed at supporting the local plastic industries.
The meeting was held at the One-Stop-Shop building of the General Investment Authority, with the attendance of Eng. Mohammed Al-Fazraei, Head of the Projects Sector and Acting Head of the Promotion Sector, Deputy Chairman of the General Federation of Yemeni Chambers of Commerce Mohammed Mohammed Salah, Chairman of the Chamber of Commerce and Industry of the Capital Secretariat of Sana'a Ali Mohammed Al-Hadi, as well as businesspeople from manufacturers and importers.
During the meeting, His Excellency the Minister emphasized that the main objective of this gathering was to stimulate the national plastic industry to operate at full capacity, address all challenges faced by manufacturers, and encourage these industries to expand and enhance their activities in cooperation with the Ministry and relevant government bodies.
The Minister also pointed out that upcoming amendments to the Investment Law would provide significant incentives and facilities for national industries, representing a major boost for industrial investments and offering manufacturers valuable opportunities to contribute to building the national economy.
During the discussions, His Excellency listened to the concerns and inputs of the manufacturers. He urged importers to enhance localization of the products they currently contract abroad, promising to offer incentives and privileges for establishing local production lines or contracting with local factories to produce the materials they need. He assured that they would be treated equally to manufacturers.
Manufacturers also presented their new plastic products, which carry the "Made in Yemen" label, including products geared toward the food sector, agriculture, greenhouses, construction, water, and high-quality piping. His Excellency Al-Mahaqari expressed his pride in the production capabilities possessed by Yemen, affirming the commitment of the Ministry and government to continue promoting and encouraging national industries, protecting their rights, and ensuring their competitiveness against foreign products.
In his speech, Mr. Ali Mohammed Al-Hadi, Chairman of the Chamber of Commerce and Industry of the Capital Secretariat of Sana'a, expressed the private sector's appreciation for the efforts made by His Excellency the Minister to support the national economy, enhance local industry, promote localization, and stimulate investment. He emphasized the complementarity of the Chamber's efforts with those of the Ministry to achieve these goals for the benefit of the national economy, the private sector, and the community as a whole.
At the conclusion of the meeting, an agreement was reached to form a joint committee between the Ministry and the Chamber to complete the necessary procedures and networking to resolve the difficulties faced by manufacturers and encourage importers to localize a certain percentage of their products
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