Yemeni-Gulf team to prepare for investment in Yemen [Archives:2006/938/Local News]

April 17 2006

Ismail Alghabiri
SANA'A, April 16 – The secretary-general of the Gulf Cooperation Council GCC, Abdurrahman Bin Hamad Al-Atia, arrived at Sana'a Saturday on a short visit to Yemen. Al-Atia will hold talks with the Yemeni officials on promoting cooperation between Yemen and the Gulf countries.

The GCC secretary-general will also discuss preparations for convening the conference on exploring of investment opportunities expected in the second part of this month. Gulf companies and businesspersons will participate in the conference for attraction and promotion of investment in Yemen.

The prospects that Yemen will join new other Gulf institutions, such as Gulf measurement authority, Gulf industrial organization and others, will be discussed too. This will execute what the joint meeting of the Gulf Foreign ministers with Dr. Abubakr Al-Qirbi in Riyadh.

The meeting had approved forming a technical committee of the Gulf finance ministries and the Yemeni Ministry of planning and international cooperation. It was to prepare studies, which determine the Yemeni investment needs, and convert them into specific plans and programs according to an investment program covering 2006 – 20015. The requirements of financing this plan will be presented to the international donor's conference, which is scheduled to convene in Sana'a next November.

The Gulf foreign ministers and the Yemeni Foreign minister will approve the plan before presenting it to the international conference. It is worth mentioning that the joint meeting had asked the GCC Secretary- General to coordinate with Yemeni bodies the necessary preparations for international donor's conference, under GCC sponsorship.

The working plan for Yemeni investment needs will be presented to the conference in order to provide the needed investments.