IFC supports reform of business procedures in Yemen

SANA'A, Feb 18 (Saba) - International Finance Corporation (IFC), a
member of the World Bank Group, and Yemen's Ministry of Public Works
signed on Wednesday an agreement to streamline the process of
obtaining construction permits, according to a press release of
World Bank office in Yemen.

The release said that the two-year project will introduce procedures
to speed the process of obtaining construction permits and help make
this process more transparent.

The project will begin work in three districts of Yemen's capital,
Sana'a, and then roll out the reforms to other parts of the country.

Jesper Kjaer, IFC General Manager of Advisory Services in the Middle
East and North Africa, said: "Business-friendly regulations pave the
way for new enterprises and jobs, which in turn will spur Yemen's
economic growth. This initiative will delve deeper into reforms to
address the obstacles facing investors in start-up businesses."

IFC and the United Kingdom's Department for International
Development launched a three-year program in January, 2009 to
support Yemen's efforts to improve its overall business environment,
with the goal of creating jobs and reducing poverty in the
country.According to the World Bank's Doing Business Report 2009,
Yemen ranked 98 out of 181 economies on the ease of doing business.
Government and businesses in Yemen are keen to promote private
sector growth to create jobs and reduce poverty.

IFC has been working closely with Yemen to support the country's
private sector reform agenda. As a result of a joint project of IFC
and the Ministry of Industry and Trade, in 2008, Yemen cut the time
of registering a new business by about 75 percent and made it
possible for businesses to complete start-up procedures at one
location.