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Industry Minister, U.S. Ambassador Discuss Economic Cooperation and Investment Opportunities

[19/05/2026 03:45]

ADEN-SABA
Minister of Industry and Trade Mohammed Al-Ashwal held talks on Tuesday with U.S. Ambassador to Yemen Steven Fagin on expanding economic cooperation, promoting investment partnerships, and supporting institutional modernization efforts.

The meeting focused on ways to strengthen trade and economic ties between Yemen and the United States, in support of government efforts to stimulate the national economy, advance sustainable development, and create a more attractive investment environment.

The discussions also addressed challenges affecting trade and imports, including rising shipping and marine insurance costs caused by attacks by the Houthi militia on international shipping lanes, and their impact on basic commodity prices and supply chains. The two sides reviewed mechanisms to ensure the stable flow of food supplies into local markets.

Minister Mohammed Al-Ashwal outlined the ministry’s efforts to advance digital transformation, automate services, and upgrade its electronic portal, including the “Rasad” platform for receiving complaints and reports, as part of broader efforts to improve commercial oversight, enhance transparency, and raise the quality of services provided to citizens and the private sector.
He also highlighted Yemen’s investment potential in sectors such as energy, oil, gas, minerals, and industrial zones, in addition to productive sectors related to agriculture, fisheries, coffee, and honey, stressing the importance of building effective economic partnerships to revitalize economic activity and strengthen supply stability.

The minister said the government is implementing a package of reforms aimed at improving the business climate and modernizing legislative and commercial frameworks in a way that keeps pace with economic developments and provides local and foreign investors with greater incentives and safeguards.

For his part, Ambassador Steven Fagin praised the reform measures and modernization steps undertaken by the Ministry of Industry and Trade, particularly in the areas of automation and electronic services.

He affirmed that U.S. companies are interested in exploring investment opportunities in Yemen once suitable conditions and guarantees are in place, noting that such investments could contribute to economic growth, job creation, and development.