Chairman of Aden Free Zone invites investors to contribute to develop the Free Zone [Archives:2005/845/Business & Economy]

May 26 2005

Dr Mohammed Hamoud al-Wathn, deputy chair of State Authority of the Free Zones, Chairman of the Free Zone in Aden has invited private sector and national investors to contribute to the second phase developmental projects that include evolvement of the commercial storage and industrial zone as well as the tourist one and the aerial shipment village, the city of fairs and services port in accordance with legal rules for evolvement of infrastructure projects. Those rules include those of constructon, participation, lease and administration.

Mr al-Wathn has affirmed that the board of directors of the state authority for free zones has approved exceptional incentives for pioneering projects of private sector and simplification of procedures pertaining to the implementation of different investment projects. He clarified that the state had worked for carrying out directives of the president of the republic and to translate them on the ground especially regarding preparation of the climate and provision of suitable ground for the start of the free zone activity and accomplishment of the second phase that include the container port and renovation of sites allocated to investment.

Mr al-Wathn also appealed to Yemeni businessmen and expatriates to contribute to those projects and to invest in them in support for the national process of construction and development. It is to be recalled that the free zone has fixed encouraging prices for projects lands that are equipped with services, among which industrial, storage, commercial and services projects. The encouraging prices of each meter of projects supplied with services for each area of 500 square meters reach two dollars for each meter and for areas of lands of more than 50 thousand square meters; the meter price is one dollar and 50 cents. As for storage projects the hire of each meter is two dollars and 30 cents. For industrial projects, each meter is hired for two dollars in a total area of 500 square meters and one dollar and fifty cents to projects areas exceeding 50 thousand square meters. As for storage, commercial and services projects the price of each meter has been fixed at two dollars and 30 cents and those exceeding the area of 50 thousand square meters for one dollar and 70 cents.