Investment conference wraps-up [Archives:2006/952/Local News]

June 5 2006

SANA'A, June 3 ) The first conference on investment and human development came to an end last week. Concluding its activities, the conference formulated many recommendations such as a national strategy for supporting and promoting investment and human development in Yemen through the study and documentation of the literature from previous investment conferences. Delegates at the conference emphasized the importance of having a partnership between private and the government to enhance development.

Additionally, the conference called upon the government to provide an attractive environment for investment, encouraging migrating Yemeni capital to invest in Yemen by giving them better facilities and increased motivation. The conference stressed the importance of the role of judiciary, including the commercial courts, which should be separated from civil and penal courts in a manner that guarantees legal security for investors.

Commercial courts should be financially supported and provided with highly qualified and experienced, in addition to enabling the role of special arbitration councils. The role of the security apparatus should be elevated in securing the legal rights and properties of investors.

The conference suggested that quality principles and the extension of the role of media in the development process are vital to investment growth in Yemen. Participants also called for the allocation of sufficient funding in 2007 in order to survey suitable sites for investment and determine ownership before land speculators move in. It is noteworthy that the conference formed a constitutional committee named the 'National Council for Investment and Development' that will be primarily concerned with the execution of resolutions and recommendations made at the conference.