Industry Minister affirms on socioeconomic role of state

SANA'A, March 01 (Saba) -
Minister of Industry and Trade Yahya al-Mutawakil affirmed on Monday that the global
financial
crisis has clearly manifested the importance of the state socioeconomic role.
At the opening of the first workshop on the social and environmental market
economy, al-Mutawakil pointed out that the effects of the global financial crisis
on Yemen are
clear through the decline of the oil revenues and its impact on the internal and
external economic balances.
He pointed to the centrality of positive intervention by the state in the economy
and markets, which requires re-consideration of the state role, particularly in the
developing
countries and least developed countries.
Al-Mutawakil stressed the need to benefit from the lessons of the global financial
crisis, including review of the existing policies, so as to make the national
economy
diverse and able to face such crises, noting that the reliance on the social market
economy system has proven its success in a number of countries with similar
conditions
to Yemen.
In the workshop, director of the private sector development project of the German
Technical Cooperation office (GTZ) Kono Fischer pointed the GTZ's concern about the
economic
aspects in Yemen through carrying out a number of activities in cooperation with the
concerned authorities.
He reviewed the successive developments in the economy in the world, noting the
successes achieved by some developing countries of similar economic reality with
Yemen and
how they become in advanced ranks by pursuing certain economic policies that enabled
them to overcome their low reality.
BA