Sana'a: The head of the General Investment Authority, Mohammed Bin Ishaq, visited the "Al-Mazani Sponge Factory" to evaluate the damage caused by a recent fire at the facility.
According to Yemen News Agency, Bin Ishaq received a comprehensive report from the factory management detailing the nature and extent of the losses. The report also included plans for rehabilitating the factory, addressing the repercussions of the damage, and resuming operations as swiftly as possible.
Bin Ishaq expressed regret over the incident and emphasized that protecting private investments is crucial for national economic security. He noted that instability in national projects leads to direct economic losses. The authority is committed to providing more than just moral support, offering aid, assistance, and incentives as stipulated in the Investment Law to help the factory overcome this crisis and resume its operations, thereby safeguarding jobs.
He urged investors to enhance preventive measures and invest in occupational safety systems. He also highlighted the authority's plan to collaborate with the private sector in developing training and awareness programs to mitigate operational risks. Bin Ishaq reiterated the authority's commitment to standing by investors during crises, aiming to maintain a stable investment environment and instill confidence that the state is a reliable partner in overcoming challenges.
Meanwhile, factory officials expressed their appreciation for the authority's leadership and attention, interpreting the visit as a sign of the state's dedication to supporting the private sector and easing its burdens during challenging times.