National Campaign For Encouragement of Investment Launched [Archives:2000/37/Business & Economy]

of Investment Launched
A press conference was held Thursday at the Chamber of Commerce & Industry (C C I), Sanaa, on the occasion of launching the national campaign for encouragement of investment under the slogan: For the Achievement of A Comprehensive Economic Development.
It was attended by a large number of pressmen and correspondents of local, Arab and foreign news agencies. Attending the conference was also a large number of merchants, businessmen, investors and a number of MPs.
The discussion was focused on the importance of freedom of goods movement from one province to another and within the cities as well as to effect deterrent regulations to curb illegal practices against merchants and industrialists.
Mr. Jamal Al-Mutreb said that an agreement and coordination had been reached with the Ministry of Interior to create a joint operations room to screen breaches committed during goods transportation. Mr. Mutreb complained that merchants and industrialists were always exposed to blackmailing and harassment by traffic policemen and security squads and also at check-points. Such being the case they cannot easily move their goods in-between the provinces without extortion and repeated halting.
On the other hand, Mr. Abdulwahab Sinan Abu-Lahoom, Chairman of the Board of Directors of the Chamber stressed the need to bring all efforts together to combat smuggling which constitutes a danger to the national economy and impedes development of industries in Yemen. He also urged that customs tariffs be reduced with the aim of eradicating smuggling. Mr. Lahoom then laid emphasis on the necessity of solving other issues also.
Mr. Mohammed Naji Allow called for the improvement of judicial system and also for quick judgments on issues now before the commercial courts.
Mr. Mohammed Hassan Al-Zabidee urged for the importance of participation and complement between the private sector and the Government based on confidence and a sense of responsibility. He also called for the necessity of finding out easy means of supply which would encourage the national investment to compete with foreign industries and investments. He wished the balance of payment to be improved along with the performances at Government offices. Mr. Zabidee then drew a comprehensive and broad picture of the obstacles of investments in Yemen and supporting the strategy of the campaign in holding symposia and educational meetings with the aim of awareness in this field.
Meanwhile, in a press statement, the Minister of Supply & Trade, Dr. Abdulaziz Al-Kumaim declared the illegitimacy of the Sanaa CCI. He asked all appropriate authorities not to deal with it owing to its illegitimacy. The Chamber was in defiance of the Republican Decree No.18 for the year 1999, he claimed.
It is understood that the CCI witnessed a lot of disputes after the demise of its former Chairman, Alhaj Hussein Al-Watari.

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