New Construction research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 12/26/2012 -- BMI View: The construction and infrastructure industry in Yemen struggles onward with both political and economic difficulties on the horizon. We forecast that the sector will post a year-on-year (y-o-y) contraction of 4.6% for 2012, taking the industry value to US$1.7bn. Growth is set to return over our 10- year forecast period, with industry value expected to rise to US$5.7bn by 2021.
Developments in the sector include:
- The deputy executive director of the Social Fund for Development of the Council of Ministers has announced an infrastructure fund worth US$2mn. The fund aims to implement a host of projects until 2015 and will also tackle poverty in the country, with a particular focus on rural areas where the poverty rate is high and infrastructure projects are needed.
- The Interior Ministry website published a list of blacklisted individuals accused of repeated attacks on electricity lines in Sana'a. The electricity transportation lines are still subjected to repeated assaults by tribesmen in spite of security and sheikhs' pledges to protect the power towers.
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With the 34-year rule of President Ali Abdullah Saleh at an end, we point to the colossal social, economic and political challenges that his successor will face. We emphasise that the risk of widespread political instability will remain high for many years to come.
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