SANA'A July 15. 2024 (Saba) - The Ministry of Electricity and Energy on Monday organized an informative seminar focusing on private sector involvement in investing in electricity and energy projects through the build-operate-transfer (BOT) system.
During the symposium, Dr. Hussein Maqbouli, Caretaker Deputy Prime Minister for Services and Development Affairs, emphasized the recent introduction of the BOT investment model in Yemen, praising the Ministry of Electricity's initiative in implementing this approach for the first time in the country. He highlighted the advantages of the BOT system for both the state and investors, allowing Yemen to acquire critical infrastructure assets without straining its budget amid current economic challenges.
Dr. Maqbouli underscored the revolutionary leadership's commitment to strengthening partnerships with the private sector, urging national banks and capital to invest in energy and infrastructure projects under the BOT framework.
Caretaker Minister of Electricity and Energy, Dr. Mohammed al-Bukhaiti, reaffirmed the ministry's dedication to enhancing the energy sector through infrastructure rehabilitation and the establishment of new power stations in collaboration with private investors. He emphasized the importance of the Electricity Law in creating an enabling environment for private sector engagement, previously monopolized by the state.
Dr. Al-Bukhaiti outlined ongoing efforts, including the manufacture of advanced smart meters and capacity upgrades in power stations, crucial steps towards bolstering Yemen's electricity infrastructure and mitigating the impact of external aggression.
Mohammed Salah, Vice Chairman of the General Federation of Yemeni Chambers of Commerce and Industry, lauded the potential of electricity projects to strengthen public-private partnerships and enhance infrastructure development. He emphasized the symposium's role in fostering collaboration between sectors to achieve national development goals.
The event reviewed technical papers on BOT contract preparation, highlighting its benefits, challenges, and necessary regulatory frameworks.
Discussions underscored the importance of mutual trust and legal clarity to attract private sector investment in BOT contracts, vital for advancing Yemen's energy sector and overall economic resilience.
H.H
resource : Saba
| more of (Local) |