Cabinet allows foreigners start business without Yemeni partner
Tuesday 19/June/2007
|
Saba
حجم الخط
The cabinet approved in its meeting held on Tuesday amendment to article No. 28 of Trade Law No. 32 for 1991 to be as follows:
"Foreigners can set up their business in the country without Yemeni partners in accordance with influential laws."
The cabinet decision came in the light of the memorandum raised by Minister of Industry and Trade to abolish monopoly, especially in foodstuff and basic goods.
The minister confirmed that the regulation would help in attracting funds and investors to open trade companies, clarifying that Yemen's joining to World Trade Organization requires abolishing such barriers.
The cabinet formed a committee chaired by Minister of Industry and Trade and the membership of Ministers of Justice and Legal Affairs to review legislations concerning trade for abolishing monopoly.
Read Also
The Governor of the Central Bank issues Decision No. 6 near Al-Thawr Exchange Company branch
Saturday 17/January/2026
