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The local authority in Dhamar Governorate organized a consultative meeting today to discuss investment opportunities and align educational outputs with labor market needs.
During the meeting, Minister of Economy, Industry, and Investment, Eng. Moeen Al-Muhaqari, reaffirmed the government's commitment to boosting investment by creating an enabling environment, involving the community, and offering attractive incentives across various sectors, including the issuance of a new Investment Law.
Al-Muhaqari explained that the new Investment Law establishes a clear framework that grants the private sector unprecedented incentives in the country's history, including strict regulatory measures, competitive advantages, and tax exemptions. These efforts aim to encourage the private sector to transition from import dependency to local production and manufacturing.
The minister also highlighted the ministry’s efforts in restructuring the legislative framework, advancing automation, reducing the import bill, and fostering investment, emphasizing the government’s commitment to supporting the private sector as a key partner in economic development.
He further noted that the General Investment Authority (GIA) is developing a new system for mineral resource exploitation and advancing the mining sector. Additionally, the General Authority for Standards and Metrology has launched an electronic portal and will soon introduce a unified customs clearance window to streamline procedures for businesses.
Industrial Zones and Economic Development
Minister Al-Muhaqari emphasized the importance of industrial zones in reducing investment costs, enhancing interregional trade, fostering small-scale manufacturing, and creating employment opportunities. He also stressed the need to channel savings into productive investments, which would generate jobs, reduce import dependency, and promote local industry localization.
The minister underscored the government's commitment to developing the education sector, particularly vocational and technical education, to ensure it aligns with the demands of productive, professional, and technological sectors, making it a key driver of workforce development.
He urged business leaders and investors to seize promising investment opportunities, particularly in the mining and energy sectors.
Dhamar’s Investment Potential
For his part, Governor of Dhamar, Mohammed Al-Bukhaiti, outlined the investment opportunities available in the governorate, highlighting its rich natural resources and the importance of creating favorable conditions for investment growth.
He stressed the necessity of ensuring key inputs for economic development, continuing state institutional reforms, and promoting justice and fairness, which he described as fundamental pillars of any development process. He also emphasized the need for a conducive investment climate and a strong focus on education, considering it a cornerstone of economic, industrial, and technological advancement.
The governor highlighted efforts to promote investment opportunities, establish industrial zones, attract investors, and develop an education model tailored to labor market demands. He cited initiatives such as the establishment of a model school and training centers for top-performing students, with a focus on science, engineering, and technology, to localize technology and applied sciences within the educational system.
Investment Authority’s Role
Yasser Al-Mansour, Chairman of the General Investment Authority (GIA), provided an overview of the authority’s initiatives in identifying and conducting feasibility studies on investment opportunities, as well as ensuring the necessary conditions for their implementation, including site selection.
He stated that the GIA is developing a portfolio of investment-ready projects across various sectors, including healthcare, tourism, and mining, in addition to expanding industrial zones.
Al-Mansour pointed out that Dhamar Governorate offers 73 investment opportunities across multiple sectors, backed by abundant natural resources and a strategic central location. He emphasized that establishing an industrial zone in Dhamar would benefit multiple neighboring governorates.
He also commended the Dhamar local authority for its engagement with government-led investment initiatives, reaffirming the GIA's commitment to supporting feasibility studies and ensuring the success of investment projects in the governorate.
Challenges Facing the Business Sector
Meanwhile, Mohammed Dadyeh, Chairman of the Dhamar Chamber of Commerce and Industry, discussed challenges facing the commercial sector, calling for a review of investment-related laws and regulations, streamlining their implementation, and resolving legal overlaps.
He stressed the need to facilitate business procedures and reaffirmed the private sector’s commitment to leveraging available investment opportunities in the governorate.
Honoring the Minister of Economy & Educational Initiatives
At the conclusion of the meeting—attended by Chairman of the Public Services Committee at the Local Council, Sadiq Al-Masri; Local Council Member, Abdulhakim Wahbi; heads of executive offices; and business leaders—Governor Al-Bukhaiti presented Minister Al-Muhaqari with the Governorate’s Honorary Shield, recognizing his role in enacting the Investment Law and advancing the investment and industrial sectors.
Following the meeting, Minister Al-Muhaqari, accompanied by the GIA Chairman, visited Al-Thalaya School for Technology and Applied Sciences, where they were briefed by Governor Al-Bukhaiti and school officials on its establishment, admission process, educational operations, and available facilities and laboratories.
Minister Al-Muhaqari praised the Dhamar local authority’s initiative to establish the school as a pioneering educational model, affirming the ministry’s support in achieving its objectives.
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