Sana'a - Saba:
The consultative meeting held on Thursday in the capital Sana'a, organized by Yemen's Ministry of Economy, Industry, and Investment, highlighting significant efforts to support local plastic industries and strengthenning coordination between manufacturers and importers.
The meeting was attended by key stakeholders, including representatives from local plastic factories and importers of plastic materials.
Eng. Moeen al-Mahaqeri, the Minister of Economy, emphasized the importance of collaboration between plastic manufacturers and importers.
He stressed the need for mechanisms that would develop national industries, boost marketing activities, and stimulate an economic cycle benefiting overall economic growth.
He highlighted the ministry’s ongoing efforts to support local industries and gradually replace imported goods with locally produced products. The aim is to create incentives for the importers sector to shift toward industrial production based on well-planned strategies.
The minister underscored the need for integrated marketing efforts that would help expand local plastic industries without undermining the role of importers.
He also discussed the ministry’s ongoing initiatives to localize key industries, including plastic production, with a focus on recycling plastic waste and fostering emerging local businesses.
The Minister pointed to a new draft investment law which includes unprecedented facilities and incentives for local investors, manufacturers, and producers.
This law is part of the broader government effort to strengthen local industries and encourage the recycling of plastic waste.
Ali al-Hadi, Chairman of the Chamber of Commerce and Industry, praised the Ministry’s initiatives to support local industries and encouraged the private sector to take advantage of new opportunities and facilities provided by the government.
The meeting concluded with the decision to form a joint committee consisting of representatives from the Ministry, the Chamber of Commerce and Industry, and both manufacturers and importers of plastic materials.
This committee will work to develop stronger relationships between manufacturers and importers, and facilitate the signing of memoranda of understanding (MOUs) to enhance collaboration in the plastics sector.
The Minister recognized the plastics industry as a crucial sector that supports various industrial, agricultural, and commercial activities.
He noted the importance of both the government and the private sector in strengthening Yemen’s economic resilience, particularly given the country's current challenges.
This consultative meeting marks a significant step toward creating a more integrated and self-sustaining plastics industry in Yemen, while ensuring that the private sector plays an active role in its development.
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