- The government approved Tuesday amendment of an article in the commercial law permitting non-Yemenis to work in trade in Yemen without partner. That came in the cabinet ordinary meeting today chaired by Prime Minister Dr Ali Mujwar.
The article 28 of the commercial law became after the amendment that non-Yemenis can work in trade in the republic of Yemen without the need for Yemeni partner or partners, according to the operative law.
The decision of amendment came in response to memorandum presented byte minister of trade and industry Dr Yahya al-Mutawakil. The memorandum clarified that keeping that article operative would keep an amount of monopoly especially in markets of basic food commodities and prevent expansion of competition particularly under control of certain number of big importers.
The minister expected that the amendment would contribute encouragement and luring of capitals to Yemen especially big investors of Yemeni origin intending to start trading companies owned by them 100%.
Meanwhile the cabinet formed a committee chaired by the minister of trade and membership of the ministers of justice and legal affairs to review all legislations pertaining to trade towards confirmation and encouragement of competition and abolishing of monopoly.