Business In Brief [Archives:2008/1145/Business & Economy]

April 10 2008

– Al-Mutawakel: Consumer Protection Agencies must be expanded

Minister of Trade and Industry Al-Mutawakel has told media sources that consumer protection agencies are important watchdogs and should expand their activities to reach new locations and sectors. He also emphasized the importance of passing the consumer protection act which is currently being discussed in the parliament.

– Icelandic company to generate power using geothermal energy

An Icelandic company is currently undergoing research to build Yemen's first geothermal power station with a capacity up to 100 Megawatts. The research will conclude in August, while preliminary findings indicate the feasibility of a geothermal power station to be located in Al-Hussy area in Dhamar governorate.

– Yemen-Germany discuss cooperation milestones

As a part of the annual deliberation meetings between Yemen and Germany, the dimensions of economic and developmental cooperation were discussed including evaluation of on-going developmental projects and future direction for cooperation.

– Fishermen protection committee formed in Hadhramout

A Fishermen protection committee was formed in Hadhramout governorate in order to protect Yemeni Fishermen from the piracy attacks of Somali pirates roaming in the gulf of Aden. The committee will work with the cost guard and fishing associations in order to develop coping mechanisms and safety nets for the fishermen.

– YEC buys locally produced wheat

The Yemen Economic Corporation has announced that it will start buying wheat from farmers at 7000 Riyals per 50 kg sack, the corporation has opened four offices to buy the winter's produce of wheat stating that it will buy from the farmers all the quantities produced during the season at a premium to encourage farmers to expand the production of wheat.

– Tender Committee to procure a computerized procurement system

The Supreme Tender Committee Announced that it will buy a computerized procurement system costing over US$ 3 million in order to regulate and govern the government's procurement. The committee is also working with several ministries including the ministry of finance in order to work with the highest officials on how to go about their procurement in a legal and transparent manner.

– YemenPAC: Ministry of Civil Service should be abolished

A Report for Yemeni Parliamentarians Against Corruption (YemenPAC) has stated that one of the prime sources of corruption is the dysfunctional ministry of civil service, calling for the ministry to be abolished and instead a neutral agency should be put in its place to monitor and regulate civil service affairs.