Riyadh: The Saudi Development and Reconstruction Program for Yemen (SDRPY) has formalized a memorandum of cooperation with the General Authority of Foreign Trade (GAFT) to bolster integration and expand cooperation aimed at achieving mutual objectives and supporting development initiatives in Yemen.
According to Saudi Press Agency, the memorandum is designed to establish joint initiatives that will stimulate the private sector in collaboration with relevant Yemeni authorities. The agreement also includes organizing conferences, seminars, and meetings to bolster the private sector, contributing to economic recovery and supporting development and reconstruction efforts in the country.
Since its inception in 2018, SDRPY has focused on supporting key sectors through a comprehensive strategy that combines infrastructure development, enhancement of human capital, and empowerment of the private sector. This approach has created job opportunities, strengthened supply chains, and stimulated economic activity through projects executed with Yemeni contractors, consultants, and suppliers.
The program collaborates with the UN, international, regional, and local organizations, civil society organizations, and the private sector to promote sustainable development in Yemen.