Invest in Yemen - Testimonials


 
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Testimonials
    Financial Investment     Tourism Investment     Education Investment
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    Real Estate Investment
 
 Financial Investment
 
Name of Company   Name of Official Testimonial
 
 


 
Omer Al-Sous Regional Manager

Since its establishment in 1930 and in-line with its core values and vision, the Jordan headquartered Arab Bank has played an active role in the economic and social development of the countries where it has presence. Arab Bank has been operating in Yemen for over 40 years and has thrived on the solid economic relations between the MENA region and Yemen. Arab Bank has provided financing to all sectors of the economy in Yemen with a focus on industry trade and construction alongside consumer and corporate banking.

The current investment climate in Yemen provides many opportunities ranging from trade finance to infrastructural development; combined with our local expertise, this has reinforced our position that Yemen is a critical emerging market. As a result of Arab Bank’s commitment and optimism for the market, operations in Yemen witnessed strong historical performance as evident by the Bank’s market share of 12 percent of all assets and 13 percent of deposits as of June 2010. It is also noteworthy that Arab Bank has received Global Finance’s award for Best Emerging Market Bank in Yemen for the years 2009 and 2010.

Abdel Hamid Shoman, Executive Chairman - Arab Bank

Omar Al-Sous, Regional Manager - Arab Bank in Yemen

 
 Tourism Investment
 
Name of Company   Name of Official Testimonial
 
 
Albustan Real Estate

 
Mr. Awad Al-Wahish (Gen. Mgr.)
 
We noticed an increased demand in hotel services and a high improvement in investments to satisfy that demand . Through our studies and research in these investments, we noticed a luxury gap in the Hada area desired by foreign companies, telecommunication companies, foreign agencies and businessmen. We thereforestarted our first establishment in 2007: Albustan for Exclusive Hotel Suites (5 stars).
The Hada area is one of the most stylish areas in Sana’a and has the largest residential community of large and medium villas inhabited by the elite such as government officials, diplomats, foreigners, political figures, businessmen, embassies and international and regional organizations’ offices.
 
 
Name of Company   Name of Official Testimonial
 
 
International Company for Tourism Investment Ltd.

 
Mr. Abdulrahman Banafe (Owner)

As a hotel management company, Mövenpick Hotels & Resorts considers Yemen an ideal destination for both cultural and leisure tourism.

 
 
Name of Company   Name of Official Testimonial
 
 
Tourism Garden Ibb Hotel

 
Mr. Mohammed Al-Gaithi (Owner)

GIA is a positive and tangible step for the investment benefits and the tax and custom exemption facilities it provides. The kind and classy treatment given by the officials and employees at the GIA offices creates a comfortable environment for investors.

 
 
Name of Company   Name of Official Testimonial
 
 
Lamar Hotel

 
Mr. Abdulrahman Namer (Gen. Mgr.)

Yemen, being a country of ancient heritage, is ripe for hotel and tourism investments, particularly with GIA’s investor facilitation and incentives help. The Lamar Hotel, with GIA’s support and a clear business plan and study from its owner, has been very successful. From our experience with tourism here in Yemen we strongly recommend investors continue to inject funds into the industry.

 
 Education Investment
 
Name of Company   Name of Official Testimonial
 
 
Lebanese International University (LIU)

 
Mr. Abdulraheem Murad (FOUNDER)

From practical experience, the facilities and incentives given to the university in Yemen were of great importance. The response was fast, administrative routine reduced, and we were encouraged to launch branches in Sana’a, Aden, Mukalla and Taiz. The direction that the Yemeni government is taking and implementing is going to encourage a growing number of investors to come to Yemen, especially in rising and developing sectors such as education, health, industry, real estate and tourism.

 
 Oil Investment
 
Name of Company   Name of Official Testimonial
 
 
Total

 
Hatem Nusaibah (Exe. Mgr.)

Total will continue to invest in Yemen’s industrial and human resources. Over the past few years, Total E&P Yemen has been uniquely interested to develop partnership with the Road Traffic Department of the Republic of Yemen in order to promote more awareness about safety in road driving. It has also sought methods to significantly reduce gas flaring and has successfully partnered with the Yemeni Government to build the PEC Power Plant that does not only help utilize gas advantageously in generating electrical power but also demonstrates Total's commitment to clean environment and sustainable development in Yemen.

 
 Industrial Investment
 
Name of Company   Name of Official Testimonial
 
 
National Cement Company

 
Mr. Abduljalil Al-Makraei (Gen. Man.)

As part of the HSA Group located in Lahj near one of the most prominent cement consumer markets, NCC has proven its place in the industry ever since production began in 2008. By designing and marketing a product based on the highest international standards we have managed to gain a large customer base.

 
 
Name of Company   Name of Official Testimonial
 
 
El Sewedy Electric Company

 
Mr. Ahmed El-Sewedy (VP for Cables)

El-Sewedy Cables came to Yemen as part of its plan to expand operations in the MENA region.Yemen was selected to because of its very good investment climate and its strategic location to export our product to international markets from the Ports of Aden & Hodeidah. We are highly appreciative of the support that the GIA has given us to start and successfully achieve our investment in Yemen. The assistance provided from the Chairman and Head of the Strategic Projects Unit at the GIA has also allowed us to establish excellent contacts in the Government, particularly the Ministry of Electricity. We are also planning to expand our activity in Yemen with projects in power generation.

 
 Fishery Investment
 
Name of Company   Name of Official Testimonial
 
 
Mosalem Farmlands and Marine Biology (Aquaculture and Shrimp Farming)

 
Mr. Muhammad Musallam (Owner)

We decided to invest in shrimp farming in order to get high quality shrimp, and we benefited from the facilities provided for us in the Investment Law. Without the GIA we would not have been able to start production in 2006.

 
 Services Investment
 
Name of Company   Name of Official Testimonial
 
 
Coffee Trader

 
Mr. Tom Coleman (Owner)

To start The Coffee Trader in Yemen as a sole proprietor we needed to register with the General Investment Authority. The GIA was very helpful in getting us started, letting us know what requirements were needed as well as the benefits we would receive. They also helped us with other government agencies handle taxation and labor laws. GIA has helped make The Coffee Trader the most popular and successful coffee café in Yemen. We continue to work with them and thank them enormously for their support.

 
 
Name of Company   Name of Official Testimonial
 
 
Mysore Palace Restaurant

 
Mr. Nezar Adeen Saied (Man. Dir.)

GIA handled the starting up process of our restaurant project with a high degree of professionalism and confidentiality. They provided extra due diligence materials, a clear indication of where the process stood, and helpful suggestions for how we might succeed. This first experience was simple, speedy and overall excellent. The way they handled business earned our trust, turning any potential mountains back into mole hills. All in all, we think it's fair to say that GIA is doing a great job in promoting foreign investment with best facilities & services, probably better than any country the region.

Because of the real boom and development in the country, we are looking to propose new investment projects and refer business friends and clients to invest in Yemen.

 
 Telecommunications Investment
 
Name of Company   Name of Official Testimonial
 
 
M.T.N

 
Mr. Raed Ahmad (C E O)

We at MTN Yemen value the opportunity given to us to invest in the country.
Our experience has been fruitful and we highly commend GIA for ensuring the proper environment for foreign investments. The Authority’s support has enabled investors to provide their services in a seamless manner and in a protected atmosphere.
While challenges did arise, we were always provided with the support to overcome them.

 
 Health Investment
 
Name of Company   Name of Official Testimonial
 
 
Modern German Hospital

 
Mr. Yahya Al-Thor, M.D (Hospital Chief)

I studied medicine in Germany and had a dream to establish a hospital in Yemen with high international standards. The dream came true in 2003. The hospital is equipped with the latest European apparatuses and has many up-to-date clinics, sections and centers. The GIA was helpful in realizing this dream.

 
 Real Estate Investment
 
Name of Company   Name of Official Testimonial
 
 
Qatari Diar

 
Mr. Abdulaziz Al-Theyab (Director of Commerce)

Yemen has now entered into a new period of sustained stability fortified by massive inbound investment. The launch of Al Rayyan Hills is a perfect example of the new sense of optimism and prosperity that infuses the country. Yemen's government is pursuing structural reforms to improve economic prospects.

Qatar's commitment and friendship with Yemen is a long-term relationship and we see strong potential in the country's development in the business and tourist sectors. Al Rayyan Hills remains one of Qatari Diar's most important projects; and the company is committed to the project plans to be executed in the very near future.

 
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P.O Box: 19022
Hadda Street, Opposite to Al-Rahman Mosque, Beside Shammr Tourist & Trading,
Sanaa, Republic of Yemen

Tel: (+967) 1 434-312/13
Fax: (+967) 1 434-314
E-mail: info@giay.org
 

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