164 investment projects at $1 bln in Free Zone says to be set up, says al-Suaibi

yemen-freezoneADEN, 15th November 2009 (Saba Yemeni News Agency) Deputy Chairman of the Yemen’s General Authority of Free Zones and Chairman of Aden Free Zone Abdul-Jalil al-Shuaibi revealed that the number of licensed investment projects in the free zone since 2000 till mid-September 2009 amounted to 164 projects estimated at more than $1 billion, News Yemen Website has reported.

The Aden Free Zone has been signed with Yemeni and foreign companies bout 25 memos to develop infrastructure projects.

The projects are distributed between 51 projects in industrial sectors, 48 projects in public services, 27 projects in trade, 18 projects in storage sector, 13 projects in residential sector and 7 projects in the tourism sector.

Al-Suaibi expected, in a statistic issued by Free Zone Administration in Aden, that these investment projects will provide 7320 job opportunities, adding it has awarded 84 licenses to establish various investment projects with an estimated cost at $0.5 billion and they will contain 5470 laborers.

Al-Shuaibi affirmed that one of the most goals is to establish the Free Zone in Aden as it has several features to transfer it to a center of international trade and investment, in addition to its strategic site.