Business In Brief [Archives:2006/945/Business & Economy]

May 11 2006

The Minister of Planning and International Cooperation Abdulkarim Al-Arhabi discussed with Mr Mohammed Al-Kohin, representative of the UN Food and Agriculture Organization (FAO), the new regional program 207-2011 and the basic agreement according to which the relations of cooperation between Yemen and the FAO is determined. The FAO has in the new regional program allocated an amount of $ 48 million to support the two sectors of education and health in Yemen.

The Yemeni Ministry of Foreign Affairs and expatriates have formed a committee to study the establishment of a bank for the expatriates in Yemen. That is in implementation of resolutions taken by the two previous related conferences.

The committee has embarked on studying a number of proposals for establishment of the bank and the mechanism of its function inside Yemen. As well as offering loans to the expatriates in the countries where they live, in addition to proportions of the government, expatriates and the private sector shares in founding the bank.

Yemeni Prime Minister Abdulqader Bajammal and the Czech Foreign Minister have recently discussed in Sana'a aspects of the bilateral relations in the upcoming period in various economic, investment, trade, health, tourism and technical and vocational education areas.

The Yemeni Prime Minister pointed out the economic developments Yemen has witnessed and the guaranteed facilities for investors in various sectors as well as investment opportunities available in Yemen before the Czech businessmen and investors. He affirmed that the Czech investors would be granted all necessary facilities.

Preparations are presently underway for holding Sana'a Third International Fair and Al-Araeen Book Fair that is organized by the ministry of culture, during the period of 2-15 September 2006. This Book Fair is part of a series of international fairs annually organized and considered as one of the outstanding cultural activities the ministry is used to hold.

The governor of Hadramout Abdulqader Hilal revealed that a number of strategic projects would be implemented in the governorate in the near future. Among those projects are the new port of Mukalla and a number of factories and investment projects which would boost the progress of development in the governorate and provide new job opportunities contributing to absorb unemployment among the youth.

The Minister of Industry and Commerce, Dr. Khalid Rajeh Al-Sheikh, attended Wednesday the ceremony of rewarding Al-Sharafi Establishment for ready-made houses which received the International Star Award for Quality (Gold Category) 2006 in Paris. Al-Sheikh affirmed that the rewarding is an honor for local industry. “Granting the International Award is an honor for our national industry. For my part, I thank the efforts of Mr. Al-Sharafi for which he was rewarded.” Al-Sharafi Establishment was selected out of one hundred companies worldwide that competed to receive the Award.

Al-Sheikh said many local products that have good name outside the country, but they are not well propagated at the local level, which affects the process of distributing them in local markets.