Business In Brief [Archives:2007/1057/Business & Economy]

June 7 2007

EU finances Yemen's Agricultural Development

The European Union has announced a grant of 15 million Euros for Agricultural Development during the years 2008/2009. This grant would target developing agricultural production, that depends on rainfall, and also developing livestock production.

U.S. to increase development support for Yemen

The U.S. ambassador to Yemen Mr. Thomas C. Krajeski has stated the United States will increase its support to Yemen in terms of enhancing transparency and establishing sustainable development. He stated that while meeting with Prime Minister Mujawar recently.

3.5 million Employed in Yemen

The Central Statistics Organizations has stated that there are 3,55 million people employed in Yemen, out of which 3.044 million are men, and the reminder 311 thousand are women. The government provides employment to 26 percent of the 3.55 million people, out of which slightly over a hundred thousand are women.

AMTC opens new show room

On the occasion of 50 years passing since the First Toyota Land Cruiser arrived to Yemen, The Automotive and Machinery Trading Center has held an event to mark the occasion, at which a Land Cruiser was given to a lucky winner. It also opened its brand new showroom located in the 60-meter street.

Al-Attar: Yemen must have a stock exchange

Director of the General Investment Authority Mr. Salah Al-Attar has stated that Yemen should have a stock exchange in order to boost macroeconomic development and attract more investors into the country, adding that Investment Authority would carry out an intensive program for promoting investment opportunities in Yemen.

Yemen and Oman joint border industrial zone

Yemen and Oman are currently studying steps to set up a joint border industrial zone to be located in the border district of al-Mazyouna and that the two countries commence work at the same time from both sides. The project was discussed by Minister of Industry and Trade Yahya al-Mutawakil and the Omani head of the Yemeni-Omani Parliamentary Brotherhood Association Ahmed bin Bukheit who also reviewed spheres of both countries commercial and economic bonds, in addition to how to activate the Yemeni Omani Joint Businessmen Council.