Invest in Yemen - Yemen Going Forward


 
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HomeYemen Going Forward
Yemen Going Forward
    Reforming the legal environment     Special Economic Zones (SEZ) Bill
    The Stock Market     Public Private Partnership (PPP)
 
 
 Reforming the legal environment

The government is working hard to reform the legal environment in order to attract more FDI to the country either by adopting the necessary amendments to the existing laws, enactment a set of laws or related regulations to create a conducive environment climate that regulate the sectors below.

 
 Special Economic Zones (SEZ) Bill

It aims to regulate the establishment, development , operation and maintenance of special economic zones in Yemen to increase international investment opportunities and promote the competitiveness of the country's economy, in order to, create new jobs, improve the local labor skills , infrastructure development of the country, encourage private sector development, and establish sustainable economic development.

 In the framework of cooperation and coordination with development stakeholders such as IFC, a Dutch Consulting Company (Ecorys) has been hired to prepare the SEZ draft bill. The ready draft project has been discussed among all stakeholders and is currently in process for completing further procedures.
 
 The Stock Market

The Yemeni government is in the process of establishing a Stock Exchange with the guided assistance of third party experts and isscheduled to be activeby mid 2012. The stock exchange will provide numerousshort and long term benefits and attract more foreign investmentsby providinginterested partiesa means to invest in the country on par withinvestments currently being made towards individual projects.

While long term solutions to the Exchange’s establishment pose a major benefit, the creation of a stock market will also help Yemen solve some of its short term challenges by opening new investment channels allowing citizens to invest their savings alongside traditional investments in fixed assets such real estate. Creating new financialsources for the private and public sectors will secure and ensure liquidity of investors' capital, and engendermore liquidity for companies and institutions.
 
The GIA looks forward to the existence of a regulated stock exchange in Yemen to further generate local and foreign investment, as part of a modern financial sector for all of its investors thereby further enhancing its attractive business environment and investment climate.
 
 Public Private Partnership (PPP)

The PPP bill aims to regulate the partnership process between the public and the private sectors in the infrastructure projects on the basis of balance of interests , distribution of risks, guarantee the rights and transparency and competitiveness of justice ,in order to encourage the private sector to invest in the infrastructure projects through attracting the private sector finance , create job opportunities and attract the latest developments and technology innovations in these projects. On the other hand, the law states a set of rules and regulations concerning the organization of supervision and control over the partnership measures to ensure the safety , protection of public interest.

GIA through its function related to policy advocacy worked hardly to reform the Investment legislations. In this regard, a minor committee consisting of concerned government institutions including GIA and the private sector has been formed to prepare a draft PPP bill and this law is currently in process.

 
 
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