$1.5 billion worth of foreign investments that have left Yemen abroad since 2014
English - Sunday 18 December 2022 الساعة 02:23 pm
Sana'a, NewsYemen, exclusive:
A new economic study revealed that the value of foreign investments that left Yemen abroad since the coup of the Houthi militia - Iran's arm in Yemen - against the state, exceeded one billion and 519 million dollars.
A study on financing development in Yemen, issued by the Ministry of Planning and International Cooperation and funded by UNICEF, said that the flight of foreign capital abroad amounted to an average of (217) million dollars annually during the period 2014-2021.
Since the coup of the Houthi militia against the state, Yemen has witnessed a significant deterioration in attracting foreign investments, and the investment environment has turned into one that repels foreign and national investments.
Reports indicate that the share of least developed countries in global trade and foreign direct investment is less than 1%, and that about 88% of foreign direct investment in Yemen was concentrated in the oil and natural gas sector during 2005-2010.
In addition to the negative effects of the continuation of the Houthi militia coup, which has extended since 2014 until now, and its negative and devastating effects on the country's security and stability, and its repercussions on the general and economic environment in particular.
Yemen had made great progress in attracting foreign investments, as the average volume of foreign investments entering Yemen reached $197 million for the period 2000-2013.
The highest value of foreign investment flows was achieved in 2008, with an average of one billion and 555 million dollars, while foreign investment flows in Yemen were marked by a decline, until they reached 134 million dollars in 2013.
