Business in brief [Archives:2007/1094/Business & Economy]

October 15 2007

Al-Sohibi: Government faces financial difficulties

The Minister of Finance, Noman Al-Sohibi, stated that the government of Yemen is facing financial difficulty in funding its operations especially with regards to the new wages strategy which is being financed outside of the government's initial budget. He also said that the majority of Yemen's oil production is being consumed locally and the value of oil sales are declining, which is a worrisome issue for his administration.

SNACC demands investigation of nuclear power agreement

The Supreme National Anti-Corruption Commission has sent a letter to prime minister Mujawar demanding access and review of the agreement which was signed between the Ministry of Electricity and Powered Corporation, in order to investigate claims of corruption which surrounded the US$ 15 billion agreement.

PM appreciates WB support

Prime Minister Mujawar has reiterated the importance of the World Bank support in terms of helping administrative reforms within the Yemeni government, especially in terms of reforming civil services and the restructuring of the government pay role. He stated that after meeting with a high level technical delegation from the World Bank.

Aden expects half a million visitors this Eid

The Tourism Office in Aden governorate has stated that Aden expects up to half a million visitors to spend the occasion of Eid in Aden. The governor's office, as well as local authorities, have undertaken extreme measures to ensure safe and comfortable accommodation of the tourists arriving to the city, especially in terms of traffic, touristic spots, and other attractions.

Yemen, UK discuss cooperation in technical education

Minister of Vocational Education and Technical training Ibrahim Hajari has met with the UK's ambassador to Yemen and discussed areas of cooperation, including support for the vocational education sector starting with the capacity of building within the ministry and updating the curricula within vocational training centers and maintenance in order to provide the job market with the needed skills.

Al-Mutawakel: sound trade policies encourage private sector growth

Minister of Trade and Industry, Dr. Yahya Al-Mutawakel, stated that new trade policies have encouraged private sector growth and an increase in its imports to the local market, especially in terms of foodstuffs. He also praised the role of the government-subsidized Yemen Economic Corporation in terms of stabilizing the market prices of foodstuffs and breaking the oligopoly in the wheat sector.

Allegations of corruption within Al-Saleh Charity

Al-Ayyam newspaper reported that the distribution of food aid by Al-Saleh charity in Abyan governorate is subjected to political affiliations and the interests of the ruling party, quoting a local source who said that food aid is being distributed to officials and influential people instead of going to the needy in spite of the mandate of the organization, calling upon the charity's leaders to investigate into the matter.

Malaysia to Train Yemen in car-building

Minister of Vocational Training Hajari has met with the Malaysian ambassador to Yemen, AbdulSamad Othman, and discussed areas of cooperation in vocational training. Ambassador Othman suggested that Malaysia establishes a vocational training institute in Yemen specializing in car manufacturing and automotive technology to supply the local market with qualified engineers in this area.

The Capital Secretariat reviews its infrastructure investment plan

The local council of the Capital Secretariat has recently held a meeting to evaluate the progression of its infrastructure investment plan, which includes reviewing the construction of several fly-over bridges in selected parts to reduce traffic congestion. The meeting resulted in closer follow up in order to speed up the completion of pending projects and also study prospects to attract additional private investment in selected areas.