Hussein Mohammed Awad ThabetCEOMy dear visitor.
Welcome to Shabwa Investment website
This was reflected in the flow of many companies to invest in the province, especially in oil, gas, fishing and telecom areas and deprived people of Shabwah of those great opportunities because of the wrong policies, corruption implemented as well as many of Shabwah province nation lived outside the country, particularly in the Arab Gulf states and contributed to the process of the economic development and the urban renaissance in those countries and accumulated their scientific and practical experience and the capitals of funds did not find jobs in their country and unfortunately these vacancies were filled outside the province and sometimes even from outside the country.
And for many reasons, the Chamber of commerce, businessmen and traders in Shabwah have not been able to realize their dream of establishing a joint stock company that join all people of various districts of Shabwah province expect at present, especially after the liberation of the country from the hordes of invaders in the year of 2015 with the support of our brothers in Arab alliance.
And in light of this new situation, we found that the conditions are more appropriate for establishment of such a commercial entity investment to serve the province and its sons and to benefits from the investment opportunities in the province.
On October 1, 2018, businessmen led by the Chamber of Commerce and Industry (Shabwah), started preparing to establish this company as beginning to create large commercial economic and commercial entity that achieves financial returns, social benefits and employment opportunities for a wide range of people in the Shabwah.
Shabwah Investment Company was established with an initial capital of US $ 7,042,000. The total number of shareholders in the company was 1,582, from all Shabwah districts.
The elected Board of Directors of the company has started preparing investment plans for the company business areas for this year and following years accordance with the available possibilities.
The Board of Directors has also started preparing the financial and administrative regulations of the company and building its structures by consulting expertise in this filed.
The Board of Directors also continued to work hard to extract all the permits of the company from the competent authorities. In parallel, the Board of Directors continued to meet under the leadership of the ministries that the company aspires to work with such as oil, fisheries and public works.
The current capital of the company is an initial number that will double when the company starts its operations, as investment opportunities are very promising in Shabwah. In addition, private sector in Shabwah inside and outside the country has great financial and material resources that need guidance to invest these financial resources with public and private sectors. SIC will work as bridge between these sectors to achieve economic and social development in our province and the benefits will return back to province and company stakeholders too.
The Board of Directors, after obtaining the necessary licenses for the company, started the establishment of a company for exchange and transfer money as one of the investment areas of the company. In the framework of future plans, the Board of Directors will conduct its contacts and meetings with businessmen and companies in cooperation and build investment partnership which will benefit all parties as well as preparing the studies of various investment projects.
At the same time, communication and coordination with the local authority, led by the Governor of Shabwah province to discuss investment opportunities and cooperation to serve the province and its nation.
Shabwah Investment Company was found to remain and grow and make its way steadily towards its legitimate objectives to become a high-rise economic edifice on Shabwah.
Thank You.
Hussein Mohammed Awad Thabet
CEO