GAI chairman calls for setting up stock market in Yemen

SANA'A, Feb. 22 (Saba)- Chairman of the General Authority for Investments (GAI) Salah al-Atar renewed on Sunday a call for setting up stock market in Yemen to attract investments in the country.

In a press conference held on Sunday, al-Atar said that the stock market would
enhance wise governance, change family companies to be shareholding companies, and
help small and medium enterprises to get funds.

Current global financial crisis should not delay establishment of the market in the
country, he said, there is now a real chance for Yemen to attract further
investments.

Al-Atar reviewed features of the new law of investment which links with other laws
like new law of taxes incomes on companies as this law would decrease taxes incomes
on the companies from 35 percent to 25 percent and 15 percent for investment
projects.

He said that the seats of the authority's board would be changed to be shared half
and half between public and private sectors, adding that the new law of the
investment would grant the authority further financial and administrative
independence.