Advertise   Subscribe Contact Yemen Post
About Us   Our Mission Terms & Services
Yemen Post Newspaper Logo  
Editor Picture The first of a hundred steps is now complete. We salute those who helped the NDC become the road map for the future Yemen. Strides of success were made, but the real test awaits us all. Will the government deliver and turn ink on paper into reality?  
Hakim Almasmari  
 Publisher & Editor in Chief   
  Email the Editor
Advanced Search
LATEST UPDATES Al Qaeda wants to cut off officials’ hands :: Yemen’s economic reforms make Yemenis angry :: The United States calls on its nationals to leave Yemen :: Iran wants its diplomat released now :: More Support to Yemeni Patients and Health Sector; GSK Launches Access to Medicine Program :: Press Release: Yemen and Saudi Arabia’s prisoners’ agreementGAZA STRIP: ISRAEL MUST STOP BOMBING TRAPPED CIVILIANS :: Yemen and Saudi Arabia’s prisoners’ agreement :: Traveling for peace, a Yemeni turns globe trotter :: Top Salafi leader in Yemen calls on Al Qaeda to give allegiance to ISIL caliphate :: Al Qaeda loses religious ground in Yemen ::
Last updated: 10:29:31 PM GMT(+03) Sunday, 17, February, 2013

Minister Warns ‘Yemen’s Economy on Edge of Collapse’

 Yemen Post Staff

Yemen’s minister of industry and trade Sa’ad Al-Din bin Talib has warned that the national economy is on the edge of collapse, Alahale reported on Sunday.
The old governance and economic equation which entitles special elites to use the national economy and helps spread corruption and illiteracy in a poor country that has been largely depending on renting is unhelpful.
“If there are not immediate reforms to boost good governance, better run economy and distribute wealth, failure will be inevitable,” he said, adding, “We are backed by international forces so that we never turn into a humanitarian tragedy in this world”.
The remarks were given at the opening of the first forum of the joint-stock corporations which was held recently in the capital Sanaa under the auspices of the industry and trade ministry.
The minister highlighted how productivity and investment flow into Yemen have halted in the past years and the state mechanism of relaying on renting. “Many corporations were formed to serve the interest of the regime and then corruption prevails including distributing large plots of land,” he said. “Economy is to bring funds through production not through donations or something like that”.
He urged to put an end to the phenomenon of possessing the national economic capabilities with weapons or the power of the tribe and to impose the rule of law. “If economic gains will be made with the weapons, we are not a state. The power of the tribe, the weapons and the forces will not help the economy to grow and then we should not expect a flow of investments,” he added.
Furthermore, he stressed the importance to accelerate the foundation of a Yemeni stock market because it remains an indicator of the government’s performance and provides many people with the opportunity to have shares in corporations. “One of the best ways to build a better economy is to establish joint-stock corporations with the aim to spread ownership as large as possible,” he concluded.





Source: Yemen Post Newspaper
Yemen’s economic reforms make Yemenis angry
Yemen’s oil pipeline suffers another attack
New economic measures make no mention of corruption
Press Release: Al-Rayan Micro-financing Program: A shining example of TEP Yemen’s Success in Project Sustainability
Press Release on PEC Power Plant on Block 10
Arab Monetary Fund to lend Yemen $168 million
Press Release: Total E&P Yemen Provides Receivers to Local Sports Clubs to Follow Football World Cup Matches
Yemen’s monster project underway
Union strike hits DNO hard
Press Release: Total E&P Yemen Sponsors ‘Talking Business’ Events
Leave a Comment
Comment will be published once it has been approved by our moderators.

Yemen Post may edit comments for length and clarity but will not change the tone of the message. Comments will only be accepted if all fields (including name) are filled correctly and the message isn't abusive, defamatory or offensive. All comments sent may be forwarded for use in the Yemen Post newspaper.
Article Tools
Email this Article Email this article
Print Friendly Version Print
Email this Article Email the Editor
Most popular
 Al Qaeda wants to cut off officials’ hands
 Yemen’s economic reforms make Yemenis angry
 The United States calls on its nationals to leave Yemen
 Iran wants its diplomat released now
 Press Release: Yemen and Saudi Arabia’s prisoners’ agreementGAZA STRIP: ISRAEL MUST STOP BOMBING TRAPPED CIVILIANS
 Yemen and Saudi Arabia’s prisoners’ agreement
  Letters to the Editor
  Dear President
  Submit Your Articles
  Readers' Letters

Quick poll
Do you think President Hadi is building the base to rule Yemen for many years?


© Yemen Post. All Rights Reserved 2007- 2014    

 Designed and developed by