Yemen establishes economic zones with Saudi Arabia

07 January 2008
Yemen is encouraging foreign investment by establishing two economic free zones in partnership with Saudi Arabia, in the border areas of Al-Wadiah and Al-Tawal.

Development of the zones will be overseen by the Industrial Zones Department of the Trade and Industry Ministry.

Sanaa is also seeking to develop another economic zone with Oman in the region bordering the two countries. Egyptian analysts are expected to finish economic studies on the project by the end of January.

The economic zones are a key part of Sanaa’s efforts to encouraging foreign investment in the country, which has one of the least developed economies of the Arabian Peninsula. Tribal unrest and pervasive corruption among the political elite remain important deterrents to investment by foreign businesses.

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