Business in Brief [Archives:2007/1115/Business & Economy]

December 27 2007

Al-Jabri: Yemen Telecommunications sector ready for WTO

Minister of Telecommunications Kamal Al-Jabri has stated that the telecommunications industry is completely liberalized and is governed by market competition, he also added that the legal framework has been reformed inline with WTO guidance. He also indicated that the telecommunications sector will benefit from the WTO and other international treaties especially in terms of introducing the latest information technologies to Yemen.

Ministry of Agriculture to invest in genetically modified crops

The Ministry of Agriculture and Irrigation has obligated a 100 million Riyals to be invested in increasing the production and distributing of genetically modified seeds of wheat. This decision was taken in the light of the increase of 70-77 percent in yield of genetically modified wheat, as evident from a pilot experiment undertaken in Hadhramout governorate. This move aims at improving Yemen's food security and reducing wheat imports.

159 million Riyals to boost fisheries in Hodieda

Director of the Fisheries Office in Hodieda governorate stated that the fisheries quality control labs and the distribution of 183 small and medium fishing boats will have a significant impact in improving the quantity and quality of fisheries produced by the governorate. The establishment of the lab and the boat give-away cost over 159 million Riyals, and will benefit over 600 fishermen directly.

Vocational Training Institutes attracts more students

The Number of students enrolling in vocational training centers in Yemen during the Academic year 2007/2008 has increased to 24,126 students, compared to 22,166 students in the last academic year, distributed over 65 institutions. The ministry of vocational training attributes the increase to the awareness of pupils of the importance of vocational training skills, which allows for direct employment in the job market.

Illiteracy increases due to lack of funds

An official report has recently indicated that illiteracy has increased to 50 percent of the population of eight governorates in the country. The report stated that the financing gap between the needed US$ 29 million and the actual expenditure of only US$ 9 million has affected mainly the enrollment of the 6-14 years segment in schools, where around 40 percent of pupils in this segment 'never' been to school.

Yemen to participate in 2008 Dubai Shopping festival

Apollo Exhibitions announced that Yemen's participation at the 2008 Dubai shopping festival will be more than 'spectacular', as Yemen was awarded one of the most prominent locations within the festival venue, to display the Yemeni Cultural village. This participation is expected to increase brand awareness of Yemen as a unique and adventurous tourism destination among the festival's visitors.

Marine Research center undertakes successful fish farming experiment

The Marine Research Center located in Aden, has recently announced the success of the first shrimp farming experiment in the country. The experiment started last November, where scores of female shrimps were put in breeding pots, thereafter the infants are put in other pots where they can grow and reproduce and repeat the cycle. Ten researchers are currently working on this project with possible implications including fish farming of larger specious of marine creatures.

YCC sold over 10,000 sheep to government employees

The Yemen Commercial Corporation (government agency) has stated that it has sold over 10 thousand live sheeps and goats for government employees, to be sacrificed as a part of Eid-Al-Adhaa rituals. Half of these sheep were sold-off in the capital city, while the other half was distributed to other governorates.

Yemen Gas Corporation may prosecute Gas 50 retailers

The Yemen Gas Corporation stated that it will prosecute 50 Liquefied Petroleum Gas (LPG) retailers in Sana'a, for hiding and overpricing LPG cylinders, thereby creating the illusion of supply shortage. The corporation stated that it has stopped supply for these retailers and is currently investigating the issue, and studying whether the company will press charges against the retailers.

Dragon Petroleum to explore in three oil blocks in Yemen

Dragon International Oil Company has won the bids to explore in three oil blocks in Yemen, with a 10 percent share in blocks 35, 49, and R2. The company is exploring for Oil and Natural Gas, while exploration activities have instantly started in blocks 49 and R2.