Survey report: 97% of projects in Yemen did not survive losses
English - Saturday 30 November 2019 الساعة 08:12 am
aden,newsyemen
The results of the ILO Emergency Assessment Survey showed that 97% of projects in Yemen did not survive the economic losses due to the war, such as: disruption of work, the loss of revenues expected, and a decline in the number of workers and customers, pointing out that financial damage affected only some projects.
The emergency assessment estimated the average financial compensation needed by medium-sized entrepreneurs to resume its activity at about $ 40,000, while small entrepreneurs need about $ 18,000 on average to cover the bulk of the funding requested.
Small-scale entrepreneurs said they needed to borrow funding for recovery, while medium-sized entrepreneurs were more interested in acquiring equipment and capital to enable them to resume operations, the ILO assessment said.
SMEs are the dominant business model in Yemen and are a major source of employment and a provider of basic goods and services, making them an important part of the social and economic resilience and recovery system.
The Houthi militia isolated Yemen from the world, tampered with public money, practiced corruption in all its forms, and hindered the real private sector from alleviating the suffering of the people, and suffered heavy losses leading it to collapse in favor of a fragment of its elements, feeding on public money and the strength of citizens.
The private sector is suffering from increased taxes and royalties and the double payment of customs, and faces serious challenges created by the Houthi militia, which limited its role in alleviating the suffering of citizens, and to play the public sector roles that the militia has obstructed since its coup against the state and control of its institutions by force of arms.
The ILO's assessment of the damage to SMEs in and around the city of Sana'a, involving 460 projects, has affected most of those projects due to the war caused by the Houthi militia.
The evaluation indicated that only 10% of the projects that remained closed were closed, while other facilities partially resumed operations.
The results of the survey showed that 5% of these projects were completely destroyed, while 22% of the projects suffered significant damage to human, physical and economic assets, and 58% of the projects suffered limited damage.
