In a significant move to bolster the local economy and empower its youth, Shawqi Ahmed Hayel, President of the Taiz Chamber of Commerce and Industry, has announced the establishment of a financial portfolio exceeding 10 billion Yemeni Rials. The fund is dedicated to financing youth-led entrepreneurial projects throughout the Taiz governorate.
The landmark initiative, a collaborative effort between local banks, the private sector, and donors, was unveiled during the opening of the Taiz Entrepreneurship Festival 2025.
A Catalyst For Innovation
The announcement was made at the Taiz Entrepreneurship Festival 2025, an event featuring 120 emerging youth-led startups. Hayel described the festival as a vital platform that reflects the spirit of innovation and creativity in the city, demonstrating the readiness of young entrepreneurs to transition from the idea stage to execution and production.
The new fund is poised to provide the critical capital needed to transform these nascent projects into viable businesses.
Building A Sustainable Economic Foundation
Hayel emphasized that entrepreneurial initiatives are a fundamental pillar for building a sustainable economy capable of absorbing young talent. He asserted that constructing an effective economic environment begins with supporting small and medium-sized enterprises and providing them with the necessary tools for growth and long-term success.
This financial portfolio represents a direct investment in the region’s future economic resilience and stability.
Institutional Support Through A New Chamber Sector
To further streamline support for the burgeoning startup scene, Hayel also announced the creation of a dedicated sector for Entrepreneurship and Youth within the Taiz Chamber of Commerce. This new entity will serve as an institutional framework to coordinate efforts between young founders and supporting organizations, ensuring that funding, initiatives, and training programs are delivered effectively.
Drawing Inspiration From A Local Giant
During his address, Hayel drew a parallel to the entrepreneurial journey of the Hayel Saeed Anam Group, a local conglomerate that grew from a simple idea into a global economic model studied internationally. He highlighted this history as proof of Taiz’s potential, reinforcing the belief that the city will continue to be a hub of opportunity despite ongoing challenges.
About The Taiz Chamber of Commerce and Industry
The Taiz Chamber of Commerce and Industry is an economic organization in Yemen dedicated to representing and serving the business community in the Taiz governorate. It plays a crucial role in promoting trade, supporting local industries, and fostering an environment conducive to economic growth and private sector development.
Source: Khlaasa
