Ministry of Oil Signs Agreement with IBC [Archives:2001/30/Business & Economy]

July 23 2001

Last Tuesday July 17, Minister of Oil, Rasheed Badamag signed an agreement to organize the second conference which is going to be held in 2002 by IBC Gulf Conference. The agreement was signed by the Eng. Mosaed Ahmad Al-Sabbari, the the head of the High preparatory Committee and Ms. Susan Webb the the company’s conference director. The signing protocol was attended by members of the preparatory committee of the conference and a number of officials from the Ministry of Oil. In a press statement, the Head of the Preparatory Committee emphasized greatly the importance of the Second Yemeni Conference. “The conference will be a positive step towards the inspiration and prosperity which is sought by the political leadership of Yemen, represented by H.E. President Ali Abdullah Saleh,” Al-Sabbery said. He added that the conference comes as an extension of the success of the first conference. He concluded that the main aim of the conference was to introduce to investors the potential of investment in the oil sector in Yemen, and to present the reality of Yemeni industry and investment opportunities so as to attract Arab and other foreign investors. Meanwhile Ms. Susan Webb of the IBC Gulf Conference thanked the Supreme Preparatory Committee for the support it had given to the IBC Gulf Conference, adding that their main objective in the conference was to showcase the substantial range of projects that were open to international investment. At the end of the signing ceremony, Ms. Webb expressed her hopes that the conferences would contribute in promoting awareness of investment possibilities in Yemen through such conferences.