In Brief [Archives:2002/12/Business & Economy]

March 18 2002

FAO financed fish projects
Food and Agricultural Organization of the United Nations (FAO) chaired by Andrew Smith had visited Yemen. Several fish projects have been financed by the FAO. The FAO has offered technological facilities with regard to preserving the fish wealth in the Red Sea. Fish export has ranked first among the Yemeni exports amounting to 90 percent out of the total exports totaling last month USD 200 million.
Tax sales implemented
The Government of Yemen has decided to implement the phase I of Tax Sales Law which is to be operated from the coming September estimated at 10 percent. The phase I is going to be implemented and applied at the expanse of industrialists, importers and merchants where their annual sales exceeds YR 50 million.
During the phase II YR 40 is going to be taken into consideration and tax sales are also going to be implemented.
Bylaws and utilizing loans
The Cabinet has endorsed bylaws in relation to loans, aids and assistance in order to guarantee not to misuse these amounts of financial assistance.
Financing development conference held in Mexico
The Yemeni delegation flew to Mexico to discuss several issues hindering the process of development. The delegation was chaired by the Minister of Planning and Development, Ahmed Sufan to participate in the 7-day conference starting from March, 16 to 22 2002.
Yemen attended Arab Industry Ministers Meeting
The Yemeni delegation chaired by the Minster of Industry and Commerce, Abdurahman Mohammed Ali Othman has attended the Second Consultative Meeting for the Arab industry , and finance ministers held in Kuwait from March 12 to 13 2002. The meeting has discussed the Yemen’s access to join WTO.