Workshop of “Scrap is a national wealth to support local industries”

Under the patronage of Mr. Ahmed Hamed Lamlas – Governor of Aden, the Economic Association Foundation, in cooperation with Al-Mukalla Iron and Steel Company Limited, organized a workshop entitled “Scrap is a national wealth to support local industries”. The workshop recommended the necessity of supporting and developing the iron and steel industry and providing incentives to attract investments to this important economic activity, as it is one of the sovereign industries that constitute an important basis for economic development.

The General Investment Authority participated with a working paper entitled “The role of the General Investment Authority in supporting transformation industries”. The workshop also stressed the necessity of activating the agreement signed between scrap dealers and iron factories in a way that preserves the rights of all parties. It also called on the government to impose strict restrictions on the specifications of imported products competing with the local product to protect against unfair competition.

The participants in the workshop recommended that the state issue a regulation regulating the implementation of the decision to ban the export of scrap in a way that takes into account the interests of scrap dealers and the needs of the iron industry on the basis of “no harm and no harm”.

Dr. Hussein Al-Malaasi, Chairman of the Economic Association Foundation, spoke about the importance of this workshop, which highlights the iron and steel industry and local raw materials, which are considered an important national wealth.

He added that the policy of preventing scrap exports is a measure taken by governments with the aim of protecting national resources, supporting and encouraging local industries, and strengthening the national economy. This policy includes banning the export of scrap metal such as iron, aluminum, and copper, or imposing restrictions on their export to achieve several goals, most notably supporting local industries, protecting the environment, increasing added value, and protecting national security by preserving strategic materials such as rare metals within the country for use in development or defense projects, in addition to strengthening national industries, improving the balance of payments, and supporting the local economy, noting that allowing the export of scrap abroad has caused the closure of 3 iron factories so far.

The workshop was attended by the leadership of Al-Mukalla Iron and Steel Factory Company Limited, officials from the Port of Aden, the Customs Authority, the Chamber of Commerce and Industry, the Supreme Authority for Combating Corruption, economic experts, and a number of scrap dealers.

The workshop was held in the Crown Resort Hall on January 7, 2025.