Business in Brief [Archives:2007/1083/Business & Economy]

September 6 2007

– The establishment of Hajja University

The Magistrate of Hajja has stated that the governorate has a strategic developmental plan that includes the establishment of a university that will provide further educational opportunities for the residents of the governorate. Other components of the developmental plan include doubling the number of feeder roads and expanding electrical coverage.

– Bidding process for industrial zones launched

The Ministry of Trade and Industry has officially announced that it has finalized the background paperwork and has launched the bidding round for construction of two industrial zones in Hodieda and Lahej. The bids will compete on a long-term development and management contract for the respective zones. The winners will be announced in December.

– Iran to support Yemen's development

The Iranian Ambassador to Yemen, Hassan Kaliman, has told Prime Minister Mujawar that the Islamic Republic wises to support Yemen's development. The ambassador also stated that possible areas for developmental cooperation will include energy, construction, manufacturing and also food processing..

– Sa'ada reconstruction fund calls for assistance

The Director of the Sa'ada reconstruction fund, Prime Minister Mujawar, has instructed the social organization of development to subsidize the operating expenses of the fund until the end of next year. He also called on the Ministry of Planning and International Cooperation to get in touch with regional and international donors to provide all the assistance possible, including humanitarian aid for some 35,000 refugees.

– Shoura council discusses COCA's performance

The Shoura Consultative Council has held discussions with the administration of the Central Organization for Control and Audit on its solvency and financial performance. Sources at the Shoura council stated that COCA's operating expenses have to be reduced and that the system for monitoring desperately needs upgrading.

– Food supplies will satisfy demand during Ramadan

The Ministry of Trade has told media sources that the existing food supplies will be sufficient to meet the forecasted demand during the holy month of Ramadan. Additionally, he mentioned that the ministry is monitoring market fluctuations closely and is ready to intervene if any black markets arise or its supply falls short of demand.

– Lawzy: Media should help in development

The Minister of Communications Hassan Al-Lawzy has called on national media to step up its act and marshal efforts towards promoting economic development in the country. He also stated that the media has a responsibility to play a major role in educating the Yemeni people on basic economic concepts and urged the public to participate to participate in the process.

– Saudi 100% – An effort to keep investments safe

The Director of Investments in the Ministry of Expatriate Affairs, Mr. Abdulraman Al-Zubaidi, told Nabanews that investors intend to put the slogan “Saudi 100%” on any investments they undertake in Yemen in order to protect it from corrupt officials who habitually exploit investors entering the country. In fact, the President of the Republic gave the Saudi King a commitment to safeguard any Saudi investments inYemen during a donors conference last year.

– Al-Mutawakel briefs diplomats on Yemeni Trade policies

The Minister of Trade and Industry has briefed Yemeni diplomats of the diplomatic club on the policies and practices of the ministry with regards to promoting international trade and welcoming industrial investments. He stated that Yemen's 2025 vision includes a focus on manufacturing, tourism and agriculture. Furthermore, he has requested that the ministers keep this in mind in their diplomatic work.

– Japan supports community development projects

The Japanese government has given two grants, totaling US$ 120,706, to two community development projects, including basic education, heath services and irrigation. The grants also include US$ 34,500 to buy a bus that has the ability to transport disabled students to a training school in Amran governorate.

– Government Officials learn from Chinese investment policies

A delegation from the General Investment Authority is currently visiting China in order to learn from the Chinese experience in attracting investments and facilitating foreign trade. The delegation also includes businessmen who will be attending an international trade exhibition and meet with Chinese businessmen.

– Mareb Dam to access more agricultural land

The second phase of expanding the Mareb dam irrigation channels is expected to start before the end of this year. It is expected to cost U.S.$ 23.9 million and will be financed by the Abu Dhabi development fund. The expansion will include 84 kilometers of irrigation channels to serve over 7.4 thousand acres of agricultural land in Mareb governorate.

– Saudi Arabic to donate US$ 1.75 million for anti-locust operations

The Kingdom of Saudi Arabia is donating vehicles, equipment, spraying gear and chemical agents for anti-locust operations. They are be used under the supervision of the United Nations Food and Agriculture Organization in order to limit the devastating effects that locust swarms have on the Yemen's agricultural industry.