Move to protect Saudi investments in Yemen


Published — Friday 25 January 2013

Last update 25 January 2013 1:05 am

| نسخة PDF Print News | A A

The Saudi-Yemeni Business Council held its first executive committee meeting yesterday at the Jeddah Chamber of Commerce and focused on brand protection and restoration of the rights of Saudi companies in Yemen, as well as real estate and issues affecting private land of Saudi investors.
The head of the Yemeni-Saudi Business Council said that there is a follow-up by the Council on Saudi investments in Yemen regarding how to protect and preserve investors’ rights. He said the priority is for the development and growth of trade activities between Saudi Arabia and Yemen.
According to the president of the Saudi-Yemeni Business Council, Abdullah bin Ahmed Bugshan, the objectives of the third session of the Council of Saudi Businesses are to overcome the difficulties faced by Saudi investors in Yemen, particularly when it comes to obtaining permits, bureaucracy in dealing with government agencies and land, and the lack of clarity of laws.
He emphasized the need to open new markets for Saudi products with support from the Saudi export fund, and to work to take advantage of the facilities available to Yemeni business owners. He also stressed the need to support Saudi contractors entering into projects funded by Saudi Arabia through the Saudi Fund for Development and the revival of the industrial business project Al-Wadiaa.
The meeting concluded with a consensus to closely monitor the obstacles facing Saudi investment in Yemen and to coordinate with Saudi investors the use of investment tools to reach solutions.
The meeting also decided that steps should be taken to address the problems of Yemeni business owners who import Saudi products and who have the desire and ability to invest in the Kingdom with government agencies. The meeting also decided to address the problems of Saudi exporters in large companies that had contracts with some government agencies in Yemen before the revolution.

What's happening around Saudi Arabia

JEDDAH: Jeddah police have closed all entry points into Makkah to prevent undocumented pilgrims from entering the holy city during this year’s Haj, in a bid to prevent overcrowding that could lead to health and safety problems.Officials have taken ac...
JEDDAH: The Bureau of Investigation and Public Prosecution recently charged three young men in the harassment case at the Jeddah corniche. A number of young men were arrested for harassing two Saudi girls at the corniche a day after Eid Al-Fitr.A vi...
JEDDAH: A total of 232 people injured in Sunday’s Aramco compound fire in Alkhobar have been discharged from hospitals here, the Eastern Province Health Department announced on Tuesday.Fifty-seven are still receiving treatment at four hospitals, with...
RIYADH: The Directorate of Education in Riyadh is keeping a close watch on schools, such as sanctioning health material and monitoring the health of staff and students, to prevent the spread of the MERS coronavirus among students. As a step in this...
RIYADH: The Ministry of Municipal and Rural Affairs has announced new legislation for the Dec. 12 elections, including fines and imprisonment for failure to disclose candidate financing, obstructing procedures or officials, and fraudulent activity.Vi...
JEDDAH: The low turnout of Saudis registering for the municipal elections is likely caused by the poor performance of previous councils, lack of a voting culture, inadequate understanding of the duties of councils, and the timing of the elections wit...

Stay Connected