Agreement at Aden Free Zone brought to end [Archives:2003/680/Local News]

Ridhwan Al-Saqqaf
Aden, Oct. 25- An agreement between the republic of Yemen and the Yeminvest company was amicably brought to an end on October 24 in the field of the right of concession at the Aden free zone.
According to the agreement, all moral as well as material rights including the projects' assets are for the benefit of the government of Yemen. This will pave the way for Yemen to enlarge its horizons for developmental agreements for the industrial zones. It will also provide large-scale work opportunities along with agreements to operate the container terminal.
Yemen has started receiving various offers from international companies specialized in this field.
The increasing demand to run and operate at Aden Free Zone has come in the light of the expectations of some of the Yemeni experts on that the zone is featured by strategic location in both the Middle East and the world. It is fully equipped with highly sophisticated industrial equipment.
The agreement was signed by Mr. Derhem Noaman, the Vice Chairman of the General Authority for Free Zones and Mr. Sultan Bin Khaled Bin Mahfoudh, the Chairman of the Board of Directors of the Yeminvest Company.
The Signing ceremony was attended by M. Khaled Ahmed al-Wazeer, a member of the Shoura Council, Mr. Ahmed Ahmed Ghaleb, the finance ministry deputy, and a host of others.
An agreement was signed in 1996 with Yeminvest Company.
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