A ceremony was held today in the capital, Sana'a, to launch the Cotton Industries Enhancement Program. The event was sponsored by the General Authority for the Development of Small and Micro Enterprises, in cooperation with the Agricultural and Fisheries Projects and Initiatives Financing Unit of the Capital Secretariat.
During the event, Acting Prime Minister Mohammed Mufiah emphasized that launching the program is a significant step towards reviving the "productive Yemeni identity." He noted that Yemeni society, particularly in rural areas, was historically unfamiliar with unemployment, as every family member played an active role in the production process. He pointed to the degradation of core values, including the value of production, over recent decades, which he attributed to the rise of a destructive consumerist culture.
For his part, Capital Mayor Hamoud Abad announced that the General Authority for the Development of Small and Micro Enterprises is allocating 600 million Yemeni riyals. These funds will be provided as soft loans to families working in small and micro enterprises, aiming to support economic empowerment and stimulate local production.
In a statement to UNEWS Agency, Capital Secretariat Deputy Khaled Al-Madani clarified that this initiative represents a fundamental pillar for strengthening the national economy and improving the living standards of Yemeni families. He affirmed that economic advancement can only be achieved by encouraging local production and domesticating industries. He added that continuous reliance on foreign imports exacerbates economic decline, considering the program a promising starting point for a successful path forward.
Media professional Ayoub Idris stressed the importance of supporting and encouraging local industries due to their vital role in bolstering the national economy. He confirmed that directing resources to support Yemeni products and industries is a greater priority than spending billions of dollars on imports. Idris called on everyone, without exception, to support this national direction, given its significant contribution to addressing numerous economic challenges and elevating the Yemeni economy.