News / Economy

Yemeni Business Leaders Search for US Investment

Yemeni Business Leaders Search for US Investmenti
|| 0:00:00
...    
🔇
X
Jeff Swicord
October 27, 2012 1:34 AM
In a conference room of General Electric Company in downtown Washington, D.C., 10 of Yemen’s most successful business leaders sit around a large table. They are on the second stop in a five-city tour led by U.S. Ambassador to Yemen Gerald Feierstein to attract American business investment to Yemen. VOA's Jeff Swicord report they are in search of American know-how in power generation, renewable energy, agriculture, water desalination, and waste water treatment.
Jeff Swicord
In a conference room of General Electric Company in downtown Washington D.C., 10 of Yemen’s most successful business leaders sit around a large table.  They are on the second stop in a five-city tour led by U.S. Ambassador to Yemen Gerald Feierstein to attract American business investment to Yemen.  They are in search of American know-how in power generation, renewable energy, agriculture, water desalination, and waste water treatment.    

The guests and their host say Yemen is at a critical juncture in its history.  Most Western headlines about Yemen focus on drone strikes and the terrorist activities of the home-grown al Qaida in the Arabian Peninsula.  But in February of this year, President Ali Abdullah Saleh was swept from power on the coattails of the Arab Spring.  His vice president, Abd-Rabbu Mansour Hadi, heads up a transitional government preparing for elections in February of 2014.  

Many regional experts think the timing is right to take on Yemen’s political, economic and security problems. 

“We believe on the one hand strategically [that] helping the Yemeni private sector develop is something that is going to contribute directly to security and stability in Yemen, and therefore more broadly in the region and the world,” said Ambassador Feierstein.

Yemen faces many challenges.  One of the poorest countries in the Middle East, 40 percent of the population faces food shortages.  There are one million acutely malnourished children in the country at risk of permanent mental and physical disability.  A third of the population is unemployed.  Militant groups have attacked government infrastructure and aid convoys.  Regular blackouts occur in the capital city Sanaa.  Roads and other infrastructure are often primitive, and clean water is in short supply.

“I think it would be challenging for American business to establish themselves in Yemen because of underlying structural concerns in the country,” said Katherine Zimmerman, a Yemen analyst at the American Enterprise Institute in Washington.  “If you start looking at what businesses need to operate in an efficient manner, Yemen’s infrastructure is not designed for that at this point.”

But Yemen’s business leaders argue that is precisely the point.  They say the change in government is transforming Yemen’s business climate.  The new government will be more open and transparent.  Changes in laws are making it easier for foreign companies to invest in the country, and companies from Europe and South Asia have already come calling.

“Yemen is still pure.  It is as they say, ‘a virgin land.’  We have to do everything from scratch.  So, it is better for those companies who would like to invest to come right now.  Now is the correct time, rather than waiting until later when the opportunities are gone,” said Wael Zokri, CEO of Griffin International, which specializes in information technology security.

There are still concerns about political stability in the country.  Groups loyal to former President Ali Abdullah Saleh are still active.  And there are other groups loyal to different members of the former government.  Under the terms of the transition, a national dialogue is to be held soon to form the structure of the new government, review the constitution, and decide on a presidential or parliamentary system.

“I think that there is quite a possibility that one of these actors will make a move that will throw the transition off course,” said Katherine Zimmerman.  “And so many have chosen to sit back, wait until some of those decisions are made, and then they will get into the game.”

The business leaders stress the security situation is much improved over a year ago.  While they acknowledge al Qaida in the Arabian Peninsula is still a threat, it no longer controls so-called Islamic emirates in some of the population centers in the south.  The business leaders say U.S. drone strikes and counterterrorism training provided to the Yemini military are making a difference.

“There are challenges, we cannot deny.  But we have done a lot and are willing to do much more.  Not only in the government sector, but people are fed up with these problems,” said Ahmed Jumaan, managing director of Jumaan Trading and Investment Company.  “When you compare the situation last year to today, you would find we are much better off.  So that is why we are here with confidence to call and request American partners to come.”

The business leaders say their reception in the U.S. has been very positive.  And their schedule is filling up quickly.

You May Like

Photogallery Americans Celebrate Thanksgiving With Feasts, Festivities

Holiday traditions include turkey dinners, 'turkey trots,' American-style football and New York parade with giant balloons More

Video For Obama, Ferguson Violence is a Personal Issue

With two years left in term, analysts say, president has less to lose by taking conversation on race further More

Video Italian Espresso Expands Into Space

When Italian astronaut Samantha Cristoforetti headed for the ISS, her countrymen worried how she would survive six months drinking only instant coffee More

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
To Make A Living, Nairobi Street Vendors Face Legal Hurdles, Physical Violencei
X
Lenny Ruvaga
November 27, 2014 7:05 PM
The Nairobi City Council has been accused of brutality in dealing with hawkers in the Central Business District - in order to stop them from illegally selling their wares on the streets. Lenny Ruvaga has more for VOA News from the Kenyan capital.
Video

Video To Make A Living, Nairobi Street Vendors Face Legal Hurdles, Physical Violence

The Nairobi City Council has been accused of brutality in dealing with hawkers in the Central Business District - in order to stop them from illegally selling their wares on the streets. Lenny Ruvaga has more for VOA News from the Kenyan capital.
Video

Video For Obama, Ferguson Violence is a Personal Issue

Throughout the crisis in Ferguson, Missouri, President Barack Obama has urged calm, restraint and respect for the rule of law. But the events in Ferguson have prompted him to call — more openly than he has before — for profound changes to end the racism and distrust that he believes still exists between whites and blacks in the United States. VOA White House correspondent Luis Ramirez reports.
Video

Video Online Magazine Gets Kids Discussing Big Questions

Teen culture in America is often criticized for being superficial. But an online magazine has been encouraging some teenagers to explore deeper issues, and rewarding their efforts. VOA religion reporter Jerome Socolovsky went to this year’s Kidspirit awards ceremony in New York.
Video

Video US Community Kicks Off Thanksgiving With Parade

Thursday is Thanksgiving in the United States, a holiday whose roots go back to the country's earliest days as a British colony. One way Americans celebrate the occasion is with parades. Anush Avetisyan takes us to one such event on the day before Thanksgiving near Washington, where a community's diversity is on display. Joy Wagner narrates
Video

Video Aung San Suu Kyi: Myanmar Opposition to Keep Pushing for Constitutional Change

Myanmar opposition leader Aung San Suu Kyi says she and her supporters will continue pushing to amend a constitutional clause that bars her from running for president next year. VOA's Than Lwin Htun reports from the capital Naypyitaw in this report narrated by Colin Lovett.
Video

Video Mali Attempts to Shut Down Ebola Transmission Chain

Senegal and Nigeria were able to stop small Ebola outbreaks by closely monitoring those who had contact with the sick person and quickly isolating anyone with symptoms. Mali is now scrambling to do the same. VOA’s Anne Look reports from Mali on what the country is doing to shut down the chain of transmission.
Video

Video Ukraine Marks Anniversary of Deadly 1930s Famine

During a commemoration for millions who died of starvation in Ukraine in the early 1930s, President Petro Poroshenko lashed out at Soviet-era totalitarianism for causing the deaths and accused today’s Russian-backed rebels in the east of using similar tactics. VOA’s Daniel Shearf reports from Kyiv.
Video

Video Hong Kong Protests at a Crossroads

New public opinion polls in Hong Kong indicate declining support for pro-democracy demonstrations after weeks of street protests. VOA’s Bill Ide in Guangzhou and Pros Laput in Hong Kong spoke with protesters and observers about whether demonstrators have been too aggressive in pushing for change.
Video

Video US Immigration Relief Imminent for Mixed-Status Families

Tens of thousands of undocumented immigrants in the Washington, D.C., area may benefit from a controversial presidential order announced this week. It's not a path to citizenship, as some activists hoped. But it will allow more immigrants who arrived as children or who have citizen children, to avoid deportation and work legally. VOA's Victoria Macchi talks with one young man who benefited from an earlier presidential order, and whose parents may now benefit after years of living in fear.
Video

Video New Skateboard Defies Gravity

A futuristic dream only a couple of decades ago, the hoverboard – a skateboard that floats above the ground - has finally been made possible. While still not ready for mass production, it promises to become a cool mode of transport... at least over some surfaces. VOA’s George Putic reports.
Video

Video Falling Gas Prices Impact US Oil Extraction

With the price of oil now less than $80 a barrel, motorists throughout the United States are benefiting from gas prices below $3 a gallon. But as VOA’s Kane Farabaugh reports, the decreasing price of petroleum has a downside for the hydraulic fracturing industry in the United States.
Video

Video Tensions Build on Korean Peninsula Amid Military Drills

It has been another tense week on the Korean peninsula as Pyongyang threatened to again test nuclear weapons while the U.S. and South Korean forces held joint military exercises in a show of force. VOA’s Brian Padden reports from the Kunsan Air Base in South Korea.
Video

Video Mama Sarah Obama Honored at UN Women’s Entrepreneurship Day

President Barack Obama's step-grandmother is in the United States to raise money to build a $12 million school and hospital center in Kogelo, Kenya, the birthplace of the president's father, Barack Obama, Sr. She was honored for her decades of work to aid poor Kenyans at a Women's Entrepreneurship Day at the United Nations.
Video

Video Ebola Economic Toll Stirs W. Africa Food Security Concerns

The World Bank said Wednesday that it expects the economic impact of the Ebola outbreak on the sub-Saharan economy to cost somewhere betweenf $3 billion to $4 billion - well below a previously-outlined worst-case scenario of $32 billion. Some economists, however, paint a gloomier picture - warning that the disruption to regional markets and trading is considerable. Henry Ridgwell reports from London.
Video

Video Chaos, Abuse Defy Solution in Libya

The political and security crisis in Libya is deepening, with competing governments and, according to Amnesty International, widespread human rights violations committed with impunity. VOA’s Al Pessin reports from London.
Video

Video US Hosts Record 866,000 Foreign Students

Close to 900,000 international students are studying at American universities and colleges, more than ever before. About half of them come from Asia, mostly China. The United States hosts more foreign students than any other country in the world, and its foreign student population is steadily growing. Zlatica Hoke reports.

All About America

AppleAndroid

World Currencies

EUR
USD
0.8012
JPY
USD
117.52
GBP
USD
0.6346
CAD
USD
1.1249
INR
USD
61.875

Rates may not be current.