More Reforms Needed Investors Say
Sana’a, NewsYemen
The two-day conference of Exploring Investment Opportunities in Yemen came to conclusion on Monday without practical steps, but some promises and more requests from Yemen to make its investment environment more healthy through more reforms.
The final statement of the conference focused on “the importance of developing the financial sector in Yemen”. More than 20 participants, in different sessions with prime minister and finance minister, asked the government to quickly achieve “the stock market” project.
The statement did not identify specific projects to be implemented, but said that the participants listened to 100 investment opportunities offered by the government in different sectors.
The official media outlets which published the final statement of the conference talked only about “intentions” of some investors to invest in Yemen. Although the statement welcomed the Yemeni government’s pledge “to provide more suitable environment for investments and to melt all difficulties that face investors”, it
talked only about an investment agreement in Aden Free Zone and a number of agreements in field of mining and local transportation.Deputy prime minister for economic affairs, minister of planning and international cooperation, Abdul-Karim al-Arhabi, announced the intention of the government “to annually hold a conference on investment”. “You will find in the coming conference to what extent the government is earnest to fulfill its promises of providing
facilities and making reforms,” said al-Arhabi.The greatest result we could get in this conference is that the robust attendance of investors to check out investment opportunities in Yemen. “We have almost 500 participants from the Gulf states whose attendance reflects their interest to invest in
Yemen,” said al-Arhabi. “This is a very important message to us implies that our brothers in the Gulf are interested to merge Yemen in Gulf economies.”The real challenge comes after the conference as we have to reach understanding between the government and investors from Gulf states on one hand and between the Gulf investors and local investors,” said al-Arhabi.
The final statement mentioned the pledges of president Ali Abdullah Saleh to prevent officials interference in investors affairs, to apply the system of “Single Room” to deal with investors and to review relevant legislations to be more expedient for investors.
A number of Yemeni and Gulf businessmen told NewsYemen their companies “will study the investment opportunities offered according to the needs and benefits. The conference is the second event organized by the Yemeni government in cooperation with the Gulf Cooperation Council after the Donors Conference held in London last
November focusing on Yemen’s needs of reforms and financial aids.The GCC’s secretary-general Abdul-Rahman al-Attiya said in an interview with the official Al-Thawra daily that the economies of Gulf states depend upon competition and free economy system that depends on open the door for local and foreign private sector to play a key role in development. He said that Yemen and Gulf states
could move from traditional frames to modern ones and they should go ahead to “correct the past and build promising future.”Chairman of the General Authority for Investment, Salah al-Attar said the authority will call for a meeting next week, to be headed by prime minister, to discuss measures to apply the system of “Single Room”.



