26 SEPTEMBER: Sanaa weekly, 12-2-98 [Archives:1998/07/Press Review]
(Yemeni Armed Forces)
Main Headlines: 1- Yemeni-Malaysian talks to consolidate the partnership & expand its economic horizons. 2- Oil exploration agreements to be signed with US & Hungarian companies. 3- The President issued strict directives preventing military personnel from dabbling in investment projects. 4- France to provide FF 30 million to expand communication network in Yemen. 5- Investment projects worth YR 154, 650 million are licensed in Aden & Lahaj. Article Summary: Strict Directives The winning formula in any development process is to attract capital by providing the necessary facilities, guarantees , and the best terms for both local and foreign investors. Investment laws remain frozen if the general economic climate in the country concerned is not conducive for investment. All obstacles must first be removed. The role of the state is provide more flexibility and improve the performance of its relevant apparatus. However, the general direction of the state could be one thing and that of its individual officials could be another different one. Hence, President Ali Abdullah Saleh has recently issued strict directives that prohibit any form of interference and favoritism by influential people, especially military personnel, in the affairs of investment. A red line has been drawn, which must not be crossed, in order to protect investments from any forms of undue influence and attract foreign capital into Yemen.