Canada to boost investments in Yemen [Archives:2004/799/Business & Economy]

December 16 2004

The Canadian commercial delegation, visiting Yemen under Mr. Mark Iykeng PM and head of the World Commercial Committee for Developing Mark Iykeng, promised to encourage Canadian businessmen to invest in Yemen. They also declared their enthusiasm for Yemen as a tourist destination.
At a press conference held in Sana'a last Sunday, Mr. Mark Iykeng said that Yemen has many opportunities to increase tourism, which can be assisted by Canadian investors. He was confident that this could also enhance trade partnership between the two states, referring to the successes of the Canadian Nexen Oil Company in Yemen.
“We are to promote the image of Yemen in Canada,” said Mr. Mark Iykeng in a statement to the Yemen Times.
He added at the press conference:
“Some Canadians know that Yemen had a glorious past and a phenomenal history. They also realize its key role in the region. However some news coming from here reflects sometimes a bad image. Now we will return to tell the community that Yemen is a safe place to invest your money in and a fascinating place to visit as a tourist.”
Dr. Abdulwali Nasher, Yemeni ambassador to Canada said the delegation had their attention focused on three major areas: Parliamentary, governmental, and commercial issues.
“They stated that Yemen has not much of oil but it has attracted Canada by virtue of its democratic approach, wise governance, and good human rights record,” he added.
President Saleh discussed his readiness to support Canadian investments with the delegation, pointing out significant access that is already provided to foreigners by Yemeni investment laws and guarantees for foreign investors.
Dr. Khalid Sheikh, Minister of Industry and Commerce, said that Yemen has opened the door to foreign investments including those from Canada and highlighted the availability of trading and entrepreneurial opportunities.
Sources at the Yemeni Chamber of Commerce and Industry agreed that the meeting with the Canadian team represented a great opportunity to enhance the already close links between Yemen and Canada, particularly in the fisheries, minerals, and oil service sectors.