Investors demand change in legislation [Archives:2003/640/Local News]

June 9 2003

A number of Yemeni businessmen and investors demanded that the new government should define an encapsulating strategy for economy development. A strategy that attends to the citizens' basic needs and that improves education, health and government services.
This demand was included in a note by Businessmen and Investors Council addressed to prime minister Ba Jammal. They emphasized in the note that there should be a balance between income and expenditure, between investment and consumption. And the allocated budgets for social policies should be reviewed as well as the centralization level of economy.
To utilize the existing resources in order to reduce inflation was one of the main points produced forward. The council, which is composed of more than 100 members, stated that unemployment is a great challenge that must be dealt with through a balanced economic thinking, and an approach that applies investment strategies.
Mr. Abdulsalam Al-Athwari, secretary-general of the council told al-Hayat newspaper the beginning of this month that the coming phase of economic reform requires deep understanding of its multi-mechanism in a context achieving confidence in investment and economic activities. And probably this would yield new legislation in order to create a leap in development and encourage investment in the right way. He added that the council demands supporting the services relating to investment activities such as power supply, transportation, insurance, ports, and drainage system. he also said that focus should be made on economic industries with great yield such as agriculture, textile, leather, tourism, fishery, and extract industries. And that quality improvement policies should be implemented and a better network should be employed.