Economy News [Archives:2001/31/Business & Economy]

July 30 2001

Investment in Bees Hives
Participants in the bee hives heaving workshop held in Taiz called for taking up measures to identify the honey standards. They also called for activating the project of developing and bee hiving in cooperation with the GTZ. This will create investment opportunities in the field of honey. This will very much support the economy as Yemeni honey will be exported to many Gulf countries and some European ones as well.
Egyptian Products on Show
An Egyptian products’ exhibition is to be organized in Sana’a during 1-10 August with the objective of broadening and enhancing the Yemeni-Egyptian trade and economic ties. The exhibition includes food and iron products, tools of water sanitation, water pipes, clothes, shoes, table sets, perfumes, make up, medicines, fertilizers and agricultural fertilizers.
Developing the Weaving & Textile Industry
Yemeni for Weaving and Textiles Corporation conducted contacts with European and Indian companies to carry out steps to re-qualify Aden, Sana’a factories, develop clothes industry to cover the needs of the people and export the surplus to foreign markets. The corporation has developed the cotton ginnery in Hodeidah with the cost of YR 35 million as it set up a new ginnery in Zabid with the cost of $ 1 million.
17 Agreements Signed between Yemen & Syria
Yemeni-Syrian Joint Supreme Committee signed in their final meeting 17 agreements and protocols of mutual cooperation in different fields. Businessmen from the two countries discussed means of enhancing economic, trade and investment ties.
Canadian Munora Explores for Gold
The Canadian Munora working in the field of metals with Yemeni partners are conducting geological survey in Aden Wadhi in Hadhramout looking for gold. Reservoir in the area is estimated at 678 ton. However, sources in the company said that the exploration process are facing problems due to the deficit in funding the project. Same source said that they would look for other partners to conduct their exploring process.