New proposed amendments to custom law at parliament

SANA'A, Dec. 24 (Saba) - New proposed amendments to the custom law have been submitted to Parliament for approval to be among other amendments aimed at coping with active investment practice, head of the Custom Authority Ali al-Zabeedi has said.

The amendments, which include an amendment regarding trafficking and how to combat
it, come to meet the WTO rules, al-Zabeedi said.

He said continuous development of custom regulations is ongoing as a new mechanism
for these regulations has been adopted and a reconsideration of custom tariffs
ordered.

Little custom tariffs investors pay in Yemen demonstrate the government's commitment
to provide facilitations for investors to eliminate impediments facing investing in
the country.

The first national conference on industry development held lately in Mukalla
highlighted serious intentions of the government to develop industry and promote
investment as prominent Malaysian officials and economists were attending.

The conference produced recommendations calling for providing a financial portfolio
to fund industrial investments.

On the margins of the conference, four agreements were signed between Yemen and
Malaysia on establishing investment complexes and a memorandum of understanding to
twin the Hadramout Chamber of Commerce and Industry with the National Chamber of
Commerce and Industry of Malaysia (NCCIM).

FR