IFC to assist Yemen to establish private economic zones
The Source: - 06/11/2010
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The International Finance Cooperation (IFC) accented on Saturday its keenness on presenting the technical assistance to Yemen to provide the required legislative environment to establish private economic zones.
The statement was made by an IFC delegation in charge of cooperating with the government to draw up a law of private economic zones establishment during a meeting with Planning and International Cooperation Minister Abdul-Karim al-Arhabi.The IFC delegation said that establishing the zones would perk up the promising investment components in Yemen.
Al-Arhabi said Yemen's government is keen to expedite finalizing the legislative and executive frames pertaining to putting up the economic zones in some governorates.He said that establishing such zones would improve the investment environment in Yemen and would help in attracting national and foreign investors, who would enjoy with great deal of independence, incentives, exemptions, administrative flexibility and comprehensive improved infrastructure.Al-Arhabi reviewed with the IFC delegation the current arrangements for a meeting of ministerial committee authorized to draft the law of private economic zones establishment.The International Finance Corporation (IFC) is the private sector lending arm of the World Bank Group, providing financial services to businesses investing in the developing world.
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