Economy News [Archives:2001/43/Business & Economy]

October 22 2001

Tourism Marketing
Mr. Abdulmalik al-Iryani, Minister of Tourism and Environment, represented Yemen in the Second Conference for Tourism Ministers hosted by the Islamic Conference Organization in Malaysia. The conference discussed means to promote and further activate tourism in member-countries of the organization.
Investors Extortion Condemned
Board of Directors of the General Authority of Investment rejected extortionist practices committed by some people to imposing themselves as partners of foreign investors. The Board considered such people a danger to development in Yemen and an hindering element against creation of attractive investment atmosphere. It also called for speeding up reforms in Commercial Courts in order to find fair and quick solutions to investment problems. The parliament was equally called upon to endorse rapidly amendments made to the Investment Law.
Borrowers from Industrial Bank on the Black List
The Yemeni cabinet added names of debtors to the Industrial Bank on the Black List of businessmen, officials, and companies which failed to repay their debts.
The Minister of Justice was assigned to look into high debts from the Bank.