Economy News [Archives:2001/28/Business & Economy]

July 9 2001

Aden Mills Production Boosts
More than 1500 tons of wheat is produced daily by the Aden mills. This figure is expected to rise to 2250 tons daily by the end of the current year.
The Mills were established in 1997 with a capital of US$ 50 million by the Hayel Saeed Group of companies and a number of local shareholders.

490 Investment Projects in AFZ
Investment projects licensed by the Free Zone Authority reached 490 totaling US$ 419 million by June 2001.

90% of Foreign Manpower in Yemen Dispensable
Recent statistics record more than 80,000 foreign employees in Yemen, out of whom 25% are working in governmental organizations and receiving 15% of the state’s budget. The rest work for the private sector.
Economists believe that 90% of the foreign manpower in Yemen is dispensable.

Time Program to Establish a Stock Exchange Market
The technical committee in charge of establishment of the stock exchange market is currently working, in collaboration with the World Bank expert, on a time program to establish a stock exchange market. More experts are arriving this month to prepare laws pertaining to the market.
Economists expect finalizing the market in two years from now.