The General Investment Authority Registers 37 Investment Projects in 2023
Investment Magazine / Special Report
The General Investment Authority revealed the registration of 37 investment projects across various sectors in 2023, with a total financial cost amounting to $173,250,778. Among these, 35 projects are new investments, while two are for expansion and utilization.
In an exclusive statement to investment Magazine, Engineer Mohammed Musharrah, Head of the Technical Office at the Authority, noted that 30 decisions were issued to add fixed assets exempted from customs at a 100% rate, with a total value of $14,027,551 from both the main office and branches, alongside 34 modification decisions valued at $13,695,210.
He highlighted that the main office achieved the highest completion rate, standing at 51.5% with 52 services, followed by the Hodeidah branch with 40.6% across 41 services. The Taiz branch recorded the lowest completion rate at 7.9%, with 8 services.
Furthermore, the Authority issued 10 decisions granting 100% customs exemptions on production inputs, with a total value of $37,737,147 from the main office, along with two decisions for additional production inputs worth $2,034,284, and two modification decisions for production inputs valued at $568,114. The main office achieved a 100% completion rate for 10 services related to the pharmaceutical industries.
Additionally, 117 decisions were issued granting 50% customs exemptions on production inputs, with a total value of $1,468,277,310. These were distributed across the main office and branches, with the main office issuing 34 decisions and achieving a 29.1% completion rate, followed by the Hodeidah branch with 54 decisions and a 46.2% completion rate, and the Taiz branch with 29 decisions and a 24.8% completion rate. The Hodeidah branch ranked highest, with the total value of additions amounting to $23,552,853 across nine decisions, and eight modification decisions valued at $49,680
Comments