Barran Press
The internationally recognized Yemeni government announced on Tuesday, September 3, 2024, a "strategic approach" to address existing challenges in the investment environment, including the fishing sector.
The announcement came during a meeting chaired by Prime Minister Ahmed Awad bin Mubarak, attended by leaders from the Ministries of Agriculture, Fisheries, Water and Environment, Industry and Trade, the General Investment Authority, heads of the General Fisheries Authorities, the Aden Chamber of Commerce and Industry, and representatives from private fishmeal factories, according to the official Yemeni news agency Saba.
Bin Mubarak said his government is preparing an investment roadmap for promising sectors, including fisheries, in collaboration with Yemen's development partners, as part of its strategy to diversify revenue streams and address past imbalances.
He highlighted that the national private sector is a key partner for the government in establishing strategic investments and forging partnerships with regional and international allies and financial institutions to leverage investment opportunities in promising sectors, develop and expand the type of investments.
Bin Mubarak revealed that his government has a strategic plan to address existing problems in the investment environment in partnership with the private sector, based on the principle of balancing state interests and investor rights. He emphasized the government's welcome and encouragement of investment in various fields, including the fishing sector.
According to the agency, the Yemeni Prime Minister instructed the Ministry of Agriculture, Irrigation, and Fisheries to rectify the situation and implement regulations governing investment and fishing practices. He stressed the importance of all stakeholders recognizing their national responsibility in these exceptional circumstances and taking serious steps to address imbalances in partnership with the private sector.
He also highlighted the government's efforts to strengthen the infrastructure of the fishing sector in coordination with donor countries and organizations, supporting projects related to food security and maximizing the utilization of local resources to alleviate poverty.
During the meeting, Minister of Agriculture, Irrigation, and Fisheries Salem Al-Saktari and owners of fishmeal factories discussed the outcomes of meetings to address the ministerial decision regarding the prohibition of establishing or building private fishmeal factories, as well as mechanisms for effective oversight and rectifying the status of existing factories to ensure optimal utilization of fish resources and preserve fish stocks.
The meeting, according to the agency, discussed a number of ideas and proposals related to investment in the fishing sector and its development, the vision of fishmeal factory owners, and coordination mechanisms for implementing regulations and overseeing this type of investment.
In this regard, the government approved a committee during the meeting, composed of the Ministries of Agriculture, Irrigation, and Fisheries, Industry and Trade, Water and Environment, and the General Investment Authority, to develop proposals and ideas for dealing with fishmeal factories, ensuring the preservation of fish stocks. The committee is scheduled to hold a technical meeting with the private sector to discuss proposals, reach consensus on recommendations, and submit them to the Prime Minister for approval.