Aden Free Zone project admired by visiting delegations [Archives:2004/744/Opinion]

June 7 2004

By Derhim Abdo Noman
Chairman of Aden Free Zone

At the time of the anniversary of National Day, May 22, eyes head toward the economy. The importance of inward investment in the national economic strategy ensures the prominence of this issue.
The Aden Free Zone project is going according to plan as the project has achieved noticeable development due to personal attention and care of President Saleh and his constant follow up of this vital project, which is one of the accomplishments of the unification of the country.
The number of vessels and carriers at the free zone during the first quarter of the current year reached 97 from various international ports, which unloaded 74,834 containers of various sizes. 28 carriers unloaded 28,126 containers during the month of April alone. The container port has been witnessing very rapid and active movements since the second half of 2003, which confirms the constant commercial activity in the port. The reduction in the risk of war insurance rate on ships coming to Yemeni ports to 0.0125% for container ships and to 0.04% for other commercial ships and oil tankers became effective as of April 2004. Another reduction expected to take place next July will make Aden one of the most price-competitive ports in the region.
The Aden Free Zone project, during 2004, has earned the admiration of all visiting delegations that made reconnaissance visits from the Gulf countries and from several European countries. There are indications of investments from countries in the Gulf in the Aden Free Zone project.
After 14 years since the foundation of the Republic of Yemen, the country, under the leadership of President Saleh, has witnessed tremendous commercial and economic development.