Social market is essential for achieving economic development

A workshop on the social market economy was kicked off here on Sunday at the Ministry of Industry and Trade.
 
This workshop aims to coming up with recommendations and perceptions to assist the government to develop policies and programs of modern economic, social and environmental system in Yemen.
 
At the workshop opening, Assistant-Undersecretary of Ministry of Industry and Trade for Industrial Development and Investment Abdullah Numan stressed the importance of the social market economy as one of the most important components of economic development.
 
He pointed out that the essence of the social market economy is based on the state intervention to steer some spending and investment to meet the social needs and reduce the class differences and ensure social stability, as it is the basis for the economic takeoff.
 
In the workshop, attended by a number of the ministry officials, the German expert Dr. Dieter Bhineka delivered a lecture on the environmental social market economy principles and its importance in the economic development.
 
The workshop organized by the Ministry of Industry and Trade, and the private sector development project of the German Technical Cooperation (GTZ), included a number of inquiry discussions on the social market economy.

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