Privatization LAW ISSUED [Archives:1999/44/Front Page]

November 1 1999

SANAA: By issuing the privatization law NO45 of19 99, President Saleh has given the green light to the biggest privatization campaign in the history of Yemen. The law was officially issued on Tuesday October 26, 1999, and is expected to have major effects on the economy of the country. Based on the law, around 43 huge establishments including the land transports company, communication, 3 cement factories, 6 airport services,(including Sanaa Airport), Yemen Drugs Company, the industrial bank of Yemen, and tens of other companies. Unfortunately, these companies are among the most successful ones under the direct administration of the government and had helped the country economically in many ways. However, analysts wonder on what basis did the government select these establishments, and what conditions are required to be met by investors willing to take charge of them.