Business In Brief [Archives:2007/1061/Business & Economy]

June 18 2007

– Government opens market for non-Yemenis

The cabinet has decided to make modifications in the current business licensing law in order to allow non-Yemenis to set up their own businesses in Yemen without having to be involved in a joint venture with Yemeni citizens. This measure will allow any foreign businessman to establish their Greenfield business in Yemen in any sector.

– AFD finances agricultural development

Regional director of Agence francaise de developpement (AFD) has recently met with Dr. Mansour Al-Hawshabi, minister of agriculture and discussed the participation of the AFD in agricultural development, in terms of increasing livestock volumes and improving the marketing of agricultural goods in Moore valley in Taiz governorate.

– Qatar foundation for development to be set up

Qatar's finance Minister Mr. Yosef Kamal said that Qatar will investment US$ 500 million in the establishment of the Qatar Foundation for Development in Yemen. US$ 200 million of that amount will be invested in Al-Saleh Medial City which will be established within the next few years.

– Al-Herwi received top award from Philco

AbdulGhani Ali Al-Herwi Corporation has recently been honored by Philco for their outstanding sales performance in 2006 in household appliances. Receiving the award on behalf of the corporation was Mr. Amin Ali Al-Herwi, director in Al-Herwi Corporation.