Yemen negotiates economic zone with KSA

Yemen and Saudi Arabia agreed to establish an economic zone in al-Towal, part of the Haradh region, said Yahya al-Mutawakel, Minister of Trade and Industry.
Al-Mutawakel revealed that the Yemeni government is yet to determine the location of the economic zone on the land port of al-Towal, noting that plans and programs are currently being developed in the area.
 
This regional program will be submitted to developers and will hopefully encourage Saudi and Yemeni businessmen to invest in this area as the al-Towal port is frequented by 60% of businessmen from these two countries.

Regarding the al-Wadea area which was established in 2006, said: “We are going to obtain the study prepared by the Consulting Firm and adopted by the Joint Business Council that is to develop this border area as the core cooperation between the two countries [Saudi Arabia and Yemen].  This cooperation will facilitate the flow of trade and services, especially in the eastern region.”
He added that Yemen implemented a number of initiatives including the establishment of economic zones and industrial free zones in one of the governorates having appropriate infrastructure, such as Aden, Hodeidah, Lahj or Hadramout.  He also noted that the joint domestic investments will create many job opportunities for the Yemeni people as it is within Yemeni borders. At the same time, it will attract investments and promote trade exchange between Saudi Arabia and Yemen.

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