The government’s investment authority announced Tuesday that it has cancelled 189 projects financed by Yemeni and Gulf investors, including projects that have not yet been implemented after ten years of planning.
The Manager of the Hadramout Investment Authority Khalid al-Sa’di explained that the 189 projects were canceled as a result of investor negligence, following the grace period of four months given to them by the Hadramout governor.
The authority added that the rate of failure for construction companies was 73 percent, the rate of failure for corporate companies was 67 percent, and for limited liability companies 60 percent. Public Shareholding Companies represented the lowest rate of project failure, boasting a failure rate of just 11 percent.
The highest rate of project failures was found in projects targeting the agricultural and livestock sector, with a failure rate of 95 percent. The services sector records showed a failure rate of 92 percent, while the real-estate sector witnessed a failure of 89 percent. Finally, the rate of failure for projects in the tourism sector was 62 percent.
Here's an interesting research idea: examine these same statistics for US or UK non-technology projects, and then compare the results to the IT sector in those countries. Let me know if you decide to pursue it.