While reiterating that Sanaa was always keen on getting GCC businessmen to invest in Yemen, he said it would be helpful if Gulf states would accommodate Yemeni labor.
Saleh made these comments while inaugurating a giant cement plant owned by a group of Saudi businessmen including Abdullah Ahmed Bugshan, Mohammed Al-Amoudi, Abdullah Bahmdan and others.
In the presence of the Saudi Minister of Commerce and Industry Abdullah Ahmed Zainal Alireza and senior Yemeni officials, Saleh said that Saudi businessmen in the country would establish two more cement plants.
"We welcome investors and we promise to give them our full support in accordance to our investment law which gives leeway to investors," he said, while praising the Saudis for building the plant and urging others to follow suit.
The project has created almost 500 jobs for Yemenis. The foundation stone for the Arabian Yemen Cement Company (AYCC) was laid in 2004 and the plant is expected to provide the market with high quality cement.
Bugshan, chairman of the AYCC, said that the idea of setting up the factory was initiated when President Saleh visited Jeddah in 1423H and discussed with him the feasibility of establishing a cement plant. This plant will have an annual production capacity of 600,000 tons.
Bugshan added that he along with other Saudi businessmen have set up joint ventures in real estate and industrial projects in the governorate of Sanaa, Hadramout, Ibb, Aden and Laj.
The total cost of the plant is $260 million. The plant is located 56km from the coastal city of Mukalla.
