Yemen taking procedures to remove investment obstacles

Yemen has taken procedures to facilitate investment activities by removing bureaucratic obstacles.

The general organization for investment in Yemen announced that it authorized new projects worth about $900 million.

An officials in the organization told ArabicNews.com that the most prominent authorized projects were in the cement sector, with more than $150 million, with funds also going toward health services and tourist projects.

The source said the amount of private investments reached $780 million in 1996 and has provided 11,000 jobs.

He related this increase to the investors' great demand, after Yemen achieved relative stability in the national currency, reduced the inflation rate, and and reduced the shortage in the government budget.