In Brief [Archives:2006/951/Business & Economy]

June 1 2006

– Mukalla city is hosting meetings of the 17th session of the Yemeni-Saudi Coordination Council, co-chaired by Yemeni Prime Minister Abdulqader Bajammal and Saudi crown prince Sultan Bin Abdulaziz, deputy premier, Defense and Aviation Minister and general inspector.

The meetings include signing six cooperation agreements, including building a road in Sa'ada, as well as major roads in various governorates, and a YR 100 million export supply line in the electrical power field. Other cooperation agreements to be signed are in social affairs and fish wealth.

Meetings also will discuss various cooperation aspects, especially regarding development, such as requesting new Saudi financing for roads, electricity and vocational training.

– The French embassy in Sana'a and the UNDP organized a May 28-30 symposium on fighting corruption. According to a French embassy press release, five French experts, including two judges, a member of the corruption prevention department, a member of the accountability office and a legal counselor from the United Nations agreements section, explained the U.N. agreement on combating corruption and gave a brief account of France's experience in fighting corruption. Approximately 130 Yemeni trainees attended symposium workshops at the Central Apparatus for Monitoring and Audition.

– Mohammed Omar Falhoum, Chairman of the Hadramout Chamber of Commerce and Industry's board of directors, revealed establishing a five square kilometer investment zone at Al-Wadeeaa crossing for an industrial area for building economically feasible investment projects.

He pointed out that work is scheduled to be inaugurated in the coming days, affirming that the customs authority currently is completing supplies and arrangements for the crossing, including the operation's mechanisms, providing goods storage warehouses and other components.

Falhoum said the recommendation came to activate trade work at the crossing area, transforming it from just an ordinary travel crossing for individuals into an economic trade crossing, thereby meeting the existing state of development.

– Yemen's Cabinet approved tender for an $18.97 million Italian-funded project to build a coastal monitoring radar system.

The project, scheduled for implementation in two years, includes designing, importing, experimental operating, central training and controlling of radar systems in Sana'a and Aden, in addition to two mobile stations, six local control centers and several stations according to the need.

The aim is to form a monitoring system to cover the coastline from Khoukha to Shaqra, in addition to maintenance work for two years after first delivery of the project, which is part of developing Yemen's coast guard activity.

– The joint Yemeni-Gulf preparatory committee for the conference on exploring investment opportunities in Yemen recently met in Riyadh to discuss, analyze and choose one of the offers by international firms for the conference's organization, scheduled for February 6-8, 2007.

Dr. Mohamed Al-Maitami, head of the committee's Yemeni side and director general of the Federation of Chambers of Commerce and Industry, explained that the third meeting drew up referential conditions for investment opportunities to be reviewed at the conference, organized by Yemen and the GCC general secretariat.