GIA General Director to Yemen Times:  “the role of mass media through advertisements that reach the public at large will eventually become indispensable.” [Archives:1999/37/Law & Diplomacy]

Yemen is currently undergoing several economic obstacles. One of these obstacles is the lack of investments and the investment encouraging atmosphere. Without the elements of success for investments, investors will not put their money into risk, and will eventually decide not to invest in Yemen. To focus on this particular issue of investment, and in an exclusive to the English weekly Yemen Times, GIA General Director – Mr. Abdulkarim A. Mutair, outlined the current situation of investment in Yemen. 
Excerpt: 
Q: What are the investment law amendments? 
A: At the beginning, I would like to thank Yemen Times for its interest in investment issues and concerns. In answering this question, I would like to point out that tackling in depth the full-range of amendments to be introduced into the Investment Law No. 22 of 1991 can not be accommodated within a short space, rather I will try to highlight some of the proposed key amendments which could be categorized along the following main lines: 
1. Additional tax exemptions accorded to the investment projects including its expansion and upgrading. 
2. GIA restructuring and the amendment of certain functions of some of its functional structures such as, among others, the admission of private sector representatives into GIA Board of Directors and the delegation of Board’s task of deciding large-scale projects to the Authority executive administration. 
3. Establishment of new representative officers for government investment-concerned agencies. 
Q: When a comparison is made between the investment law in Yemen and similar laws in the region, are there any essential differences? 
A: In fact, the Yemeni investment law as amended, is seen as one of the best laws in the field with the recognition of a number of international investment experts as well as regional and international organizations concerned with the issue of investment. Evidently, such reputable position is brought about by the full-package of exemptions, benefits, guarantees and other facilities provided to the prospective investor along with investment simplified procedures, the concept of investor one-window authority, and the availability of numerous options for settling of investment disputes which may arise between investors or between the State and investors. 
Q: How the recent acts of sabotage and other security disturbances impacted the investment climate? 
A: Undoubtedly, the security situation is instrumental for the promotion and mobilization of investments of the country. 
Q: Is there a coordination between the Authority and Arab and foreign investment institutions and centers so as to benefit from their experiences in the field? 
A: Surely there is. The Authority maintains links with investment institutions in some countries in the region and worldwide. The target goal is to obtain as much benefits as possible specially from those countries with pioneering experiences in the field. For that end, the Authority is trying to translate such relations into appropriate legal frameworks. To exemplify, a number of technical cooperation protocols are currently under negotiation with a number of other countries. Among other benefits, such protocols facilitate the transfer of expertise and experiences as well as the exchange of information, visit, publications, and others. 
Q: What is the role of media in supporting investment promotion? 
A: All-type of media are essential means for publicity and promotion, through which investment data and information are disseminated to the target audience. With the availability of specialized media instruments which deal with specific fields and specific audience, the role of mass media through advertisements that reach the public at large will eventually become indispensable. 
Q: Yemeni immigrants abroad and investment in Yemen: what is the magnitude of investments by non-resident Yemeni nationals? Are there any special benefits accorded to them? 
A: It is our conviction that investments by non-resident Yemeni national constitute a main component of the overall investment activity in the country. Based on preliminary statistics, investments by Yemeni immigrants whether directly or through in-country partners could reach approximately 50% of total investment capital. 
Q: Are there any feasibility studies and field surveys carried out by GIA to explore the local market in terms of its potentials, demands, and available opportunities as well as Arab and foreign investment trends in Yemen? 
A: Preliminary studies for a number of investment projects in the industrial sector and primary data on a number of investment opportunities in the field of tourism and mineral resources are available at the Authority and being promoted through a systematic campaign carried out by GIA Promotion Sector at home and abroad. With respect to specialized research designed to address the local market requirements, the responsibility lies with other government agencies. For Arab and foreign investment trends in Yemen, they are constantly monitored by the Authority and reflected through its monthly quarterly and annual bulletins and other publications.
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