Thursday, 05-December-2019 18:02
no comments in "Economy"
Wednesday, 14-March-2007 Gulf News - JEDDAH Yemen is seeking investment worth $10 billion, according to Yemeni Minister of Trade and Commerce Khaled Shaikh. Addressing a Press conference in Riyadh recently, the minister said that Saudi and other Gulf investors who seek to invest in Yemen will be given several privileges, which include exemption from paying taxes and provision for transfer of profits and capital without hindrance. The Press gathering, which was also attended by Gulf Cooperation Council (GCC) Secretary-General Abdul Rahman Al Attiyah, focused on the forthcoming conference for exploring investment opportunities in Yemen, which is scheduled to be held in Yemen on April 22. CEOs and general managers from over 20 Gulf, Arab, and foreign establishments are expected to attend the conference.
The GCC has authorised Al Iktissad Wal-Aamal Group to organise the event. Al Attiyah said that organising the conference was part of the agreement signed between GCC states and Yemen to facilitate more economic cooperation in the GCC 2001 summit. "There are over 100 investment opportunities in Yemen," the minister said. He explained that among the potential areas for investment are three electrical power plants with a capacity of 400 megawatts each. He added that other investment venues were in seaport facilities, aviation, water desalination plants, mining, oil refineries, and railways. "The five industrial zones in Yemen are also a rich area for potential investment," he said.
Al Attiyah, on his part, noted the importance of establishing joint GCC-Yemeni venues, especially in tourism, industrial, and commerce sectors.
Khaled Shaikh said the Yemeni government has been implementing a series of economic reforms since both Yemens unified in 1990. "Since the formation of the unified economy, all sectors have been freed for investment, and we have also had several negotiations to join the World Trade Organisation," the minister said. He noted that 40 per cent of the total imports of Yemen were from Gulf countries.
Highlighting some of the aspects in the Yemeni Investment Law, the minister said that all investment companies would be exempted from paying custom tariffs in its basic structure contents." It also gives an exemption to paying taxes on profits from 5-7 years," he said. As for the labour employed in joint Yemeni projects, he said that projects located within the free zone have the freedom of importing foreign labour or recruiting local, or both.
More from "Economy"

Other titles:
Tuesday, 17-October-2017
The United Arab Emirates acknowledged on Tuesday that two of its pilots were killed when their military aggression plane crashed over Jawf province, a military official said

The official added that the aggressive crashed plane was an apache that was
Tuesday, 17-October-2017
Three citizens were killed and four others wounded in two Saudi air strikes hit Majza district of Saada province, an official said on Tuesday.

The strikes hit a citizen's car in al-Jamalah area in the district, the official added.
Tuesday, 17-October-2017
Artillery of the army and popular shelled a gathering of Saudi-paid mercenaries in al-Moqadra area in Serwah district of Marib province, a military official said on Tuesday.

Meanwhile, dozens of Saudi-paid mercenaries were killed and others injured in Wadi al-Theek in the district, the official added.
Monday, 16-October-2017
The army and popular forces carried out on Monday unique military operations in Taiz province.

A military official said that a number of Saudi-paid mercenaries were killed at the hands of the army and popular forces in al-Jazami Hill in al-Kadaha area in al-Ma'afer district.
Monday, 16-October-2017
A Saudi aggression fighter jet targeted a citizen's car driving in Fara area of Kutaf district in Saada province overnight, killing the driver and injuring his friend, a security official said on Monday.
Monday, 16-October-2017
The army artillery and popular committees launched a fierce attack on Saudi-paid mercenaries' sites in Jawf province, a military official said on Monday.

The attack destroyed a military vehicle belonging to the mercenaries and killed all on board in Sabran area in khab and shaaf district.
Sunday, 15-October-2017
Scores of Saudi enemy soldiers were killed and injured on Sunday when the army and popular forces repelled a Saudi military attempt to sneak into Shurfah site in the border province of Najran, a military official said.

The operation was accomplished successfully against the Saudi
Sunday, 15-October-2017
The army and popular committees have killed a total of 18 Saudi-paid mercenaries in sniper operations over the past hours in the central province of Marib, a military official said on Sunday.

Ten mercenaries were killed in Nehm district and eight others were killed in Serwah district, said the official.
Saturday, 14-October-2017
Saudi aggression warplanes have launched more than 49 airstrikes over the past hours on several residential areas across Yemen, a security official said on Sunday.
The airstrikes targeted the areas of Malahiz and Husama in Dhahir district, and areas Thuban, Masahif and Sdad in Bakim district of northern Saada province.
Thursday, 12-October-2017
The army and popular forces carried out an operation attack on Saudi-paid mercenaries' sites in al-Hawal area in Nehm district.

A local official said that the operation attack resulted in killing and injuring mercenaries, adding they also incurred heavy losses at their ranks

who we are     |    Advertising     |    contact us
All rights reserved © Almotamar Net, Developed by