Proposals for Developing Investment Climate in Marib Governorate

Proposals for Developing Investment Climate in Marib Governorate

The Studies and Economic Media Center (SEMC) presented a series of proposals and recommendations for the development of the investment environment in Marib Governorate through the Bulletin of “Analysis of the investment climate and investment opportunities in Marib Governorate”, which aims to identify investment opportunities in the Governorate, difficulties facing investors and provide solutions and recommendations for the development of the investment environment in the Governorate.

The Bulletin included the key investment opportunities in the Governorate, with notable ones including investing in the establishment of a central agricultural market, which would serve as a major hub for agricultural and animal products in the Governorate as well as those imported from other governorates and investing in the cultivation and production of dates.

Also, there is an opportunity to establish a company for manufacturing industries, focusing on converting raw materials into industrial products. Besides investing in stone mining and the manufacturing of local building materials, ceramics and bricks using desert sand as the primary raw material. And to developing a free industrial zone within the Governorate. And to invest in restoring archaeological sites and developing tourist facilities and national museum.

Meanwhile, the Bulletin addressed the main challenges facing investment and investors in Marib, such as: unfair tolls imposed on goods during transport between governorates to the Marib’s markets, frequent increases in rent for shops and properties, and numerous eviction lawsuits being filed in courts.

Also, the absence of a legal and administrative framework for partnerships between the private sector and local authorities, and Limited availability of state-owned land that can be granted to investors.

The Bulletin provided a set of solutions and recommendations aimed at creating an attractive investment environment in Marib, encouraging local and foreign investments, and achieving sustainable economic development in the Governorate.

The key recommendations including an appeal to the central government to enhance economic, political, and security stability in the Governorate, and to review and update the current investment law to meet the current demands or issue a presidential decree that gives the local authority the legal framework to facilitate investment and partner with the private sector.

Also, it recommends the local authority in the Governorate to form an economic committee comprising members from both the public and private sectors to outline plans and visions for economic development and investment opportunities in Marib.

And to activate economic media in the Governorate and encourage the establishment of commercial arbitration companies. And calling for the local authority should create an investment guide for Marib Governorate, supported by feasibility studies, recovery periods, and return on investment, and set up an electronic portal for this guide.

It is worth mentioning that this Bulletin is one of four bulletins on the investment environment and opportunities in Aden, Marib, Taiz, and Hadhramaut, prepared by the Studies and Economic Media Center (SEMC) and the Economic Reforms Team (ERT).

Click here to view the Bulletin