Yemen and donors discuss hindrances and solutions of investment

The Yemeni Government is going to do an evaluation for the organizational and political environments that regulate investment in Yemen. The evaluation focuses on the central and local levels for the purpose of reform to make Yemen an attractive investment environment, said Abdul-Karim al-Arhabi, Deputy Prime Minister for economic affairs, Minister of Planning and International Cooperation.

This is Yemen’s second consultative meeting with donors for discussing the latest developments associated with Yemeni tendencies for allocating resources regarding funding relief efforts and reconstruction in Sa’adah governorate as well as forming a committee from the government and donors for coordinating support efforts. 

In the meeting, al-Arhabi expressed the Yemeni government's appreciation to dedication of Yemen's development partners (donors) in supporting and enhancing government efforts aiming at accelerating remedies of humanitarian and material effects resulted in five-year government war with rebels in Sa'adah. 

He noted importance of speeding up providing urgent needs for helping homeless people and supporting government's efforts in reconstructing damaged areas and its eagerness on speeding up infrastructure projects in Sa'adah. 

He valued the initiative of many regional and international non-government organizations for heading to affected areas in the governorate and making surveys for supporting government's efforts in this field. 

Deputy Minister of Local Administration, Ja'afar Hamed, clarified that the number of refugees who returned to their villages and houses reaches 12,930 families containing more than 90 thousand persons and that 3,274 families are still living in areas housing them. 

He noted that damages have counted covered 6 thousand houses, 900 farms, 80 schools, 5 health centers, 3 centers for agricultural guidance and 90 mosques. He called on Yemen's development partners to support government efforts for providing emergent dire needs for helping displaced people.

Al-Arhabi, on the first day of the meeting indicated that the government will apply one system for both foreign and local investment. The opening of the workshop took place last Saturday to display and discuss a study on enhancing direct, foreign investment policy and promoting it in Yemen. A team of experts from the consultancy services office of the International Fund Corporation, a subsidiary of the World Bank prepared the study.      

"Crystallizing a clear, national strategy for improving investment environment in Yemen represents one of the most prominent priorities of the government in the coming period," said Al-Arhabi.

Al-Arhabi stressed the importance of the study on question in making clear visions relating to reality of investment in Yemen and the nature of the hindrances it faces. This is in addition to the solutions needed to overcome all obstacles and contribute to determining clear features of an investment road map in Yemen. Al-Arhabi commented in the opening of the workshop on the key and pivotal role that should be played by the private sector in leading the comprehensive development in Yemen. He then mentioned the reforms that were achieved in the legislative atmosphere via the issuance and amendments of some laws relating to investment and easing procedures of starting new businesses. Al-Arhabi concluded his words by emphasizing the importance of benefiting from the outcome and results of the study to improve Yemen's potentials of investment through continuing reforms that target improving the investment environment and policies that governs investment opportunities in Yemen.

Al-Arhabi said that the Yemeni government is working hard on its reforms of investment atmosphere in order to attract more investors to Yemen to achieve good economical growth which will help in reducing poverty.

Director of the Businesses Environment Program in the Middle East and North Africa (MENA), Frank Sader, praised the achievements that Yemen has done in creating means in the legal and legislative environment to attract investment. He then commented on the amendments in the laws of taxes and reducing procedures and bureaucracies of commercial, trading and investment deals. Sader then spoke about the current efforts done by the Yemeni government in developing policies relating to investment in the mining and oil extracts sectors. 

Head of the team of experts, Joseph Battat, that’s conducted the study presented a detailed demonstration of the study indicating the investments promising potentials that Yemen possesses. In the latest report on investment, Yemen ranked 140 in the global list concerning performance for attracting foreign investments. Battat spoke of the qualities of the geographical location that Aden Port has that holds the second rank in the past forty years as one of the most important port in the world.

Battat stressed the importance of continuing forward the project of developing cities of ports in Yemen reckoning that the coming years will witness tangible improvements in Yemen’s investment capabilities in view of the Yemeni government determination to continue its reform programs to make an attractive investment environment. 

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