Organized by Aden governorate office:Workshop on investment [Archives:2003/645/Reportage]

June 26 2003

Ridhwan Al-Saqqaf
A workshop on tackling investment impediments and difficulties facing investment in Aden and the free zone. was organized by the Aden Governorate Office on June 22. Taking part in the workshop were the General Authority for Free Zones, the Chamber of Commerce and Industry, Yeminvest, Tax Authority, Customs Authority, Coastal Cities Development Project, the Free Zone Security and many relevant parties and host of investors and businessmen.
The workshop discussed ways of how to develop and promote and upgrade work mechanisms, laws, and services aimed basically at finding an economic concentrated city on the marine, air, trade, and international services.
This also has been made with a view of making use of the Aden city investment potential in order to become an investment attraction locally as well as internationally through its free zone and other vital economical institutions.
Aden-related issues were also discussed such as the Aden Free Zone as one of the strategic active spot deriving its force from other institutions in the city.
Participants also discussed the difficulties and hindrances faced by the city and the Aden Free Zone, such as, weak basic infrastructure of the Aden city, unavailability of allocated investment pieces of lands, improper law conformity, no due attention to customs duties has been paid for plants and some other industrial complexes inside and outside the Aden Free Zone, an high increase of prices with regard to the public services such as, electricity, water, fuel, and the rented meter at the Free Zone, unavailability of clear-cut policy for lands.
In addition to this, the number of investment bodies which deal with investors are numerous with regard to giving permissions and exemptions.
The workshop discussed also different approaches such as, the high increase of issuing permission fees related to the companies operating in the free zone.
There are also some law texts which contradicts with the Aden Free Zone law and thus, has resulted in an unavailability of coordination mechanisms among different economical institutions in Aden as well as the delay of settling land disputes.
Consequently, the insufficient role of the administrative boards is too low.
Those board are supposed to monitor and help implementing projects.
On his part, Dr. Yahya Mohammed Ashoabi, the Aden Governor, placed an emphasis on that the main aim of organizing this workshop is to gather together all the concerned investment bodies to consult and discuss investment-related aspects in order to map out a suitable mechanisms.
This can be achieved through correcting violations and removing the available hindrances before investment.
He further indicated that all discussions and opinions given by the participants at the workshop aim basically at making of the investment a tremendous success in Aden and the Aden free zone.
The workshop was attended by Mr. Abdulkareem Shaef, the secretary general of the local council in Aden. Mr. Ahmed Adholaee, the deputy assistant, Mr. Derhem Noaman, the Vice Director of the free zones authority, Mr. Richard Cheong, the Chief Executive Officer, Mr. Adnan al-Kaf, Mr. Mohammed Omar Bamshmous, the Chairman of the Industry and Commerce Chamber.
On his part, Mr. Derhem Noaman, the Aden Free Zone Chairman said that the main aim of the workshop is to find suitable solutions for hindrances faced by investors.
It also aimed at increasing investment opportunities in the free zone.
An emphasis was also placed on the great significance to activate the role of the institutions and businessmen.
This could be achieved through the pioneering role played by those institutions to strengthen the establishments of industrial complexes in the Aden city.
This political leadership's butters chaired by the president of the republic to subdue difficulties is praiseworthy.
Mr. Richard Cheong, the Chief Executive Officer of the Yeminvest declared that participants during the workshop discussed difficulties faced by the investors. The leading role played by the Aden to attract new investment opportunities is a result of the Government of Yemen's role in facilitating the investment attraction particularly the Aden Free Zone.