almotamar.net - Deputy Premier for economic affairs, the minister of planning and international cooperation Abdulkarim al-Arahabi has Sunday reviewed prominent economic, financial, administrative and institutional reforms Yemen has accomplished in the past years.

The minister explained that reforms tackled expansion of the private sector role and opening opportunity for it to lead the process of economic process.

The first meeting of the investment conference held Sunday afternoon and chaired by the Yemeni minister a number of working papers was discussed. The papers pivoted around the reforms programme, directions of the upcoming stage, events the world witnessed in the nineties decade and their impact on Yemen's economy in addition to improvement of the level of the human development in Yemen in the light of the vision of the political leadership and the Gulf Cooperation Council states and preparation of a program for qualification of the Yemeni economy and its integration with economies of the Gulf countries.


The working paper presented by minister al-Arhabi dealt with the economic, financial, administrative and institutional reforms Yemen has achieved in the past years. The paper indicated that during the second half of the nineties Yemen was able to conduct economic, financial and monetary reforms contributed to return the economy to its right track and prepared circumstances for beginning structural reforms. The reforms contributed to success of the 2nd five-year plan for economic and social development 2001-2005 in achieving an economic growth rate amounting to 4.2% and the Yemeni economy restoration of its balance.

The paper clarified that reforms headed for expanding role of the private sector for leading the economic development process and to contribute to alleviation of poverty. The minister al-Arhabi also reviewed the government measures in 2006 particularly issuing the laws of financial status and fighting corruption and formation of corruption fighting body, amendment of the law of judicial power, drawing up a new draft law for tenders and approval of the government of a directory of tenders procedures and putting them into force. The paper also mentioned about Yemen's accession to the transparency initiative in excavator industries. Regarding improvement of investment environment the paper indicated that the state carried out measures on strengthening the commercial judiciary, enhancement of legislative and institutional structure of the survey and real estate record establishment and the one-window system in addition to reconsideration of institutional arrangements related to investment.