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Yemen announced that it plans to adopt comprehensive legislation reforms in an effort to introduce a suitable investment climate to attract foreign investment.
A set of laws are underway that would “boost accountability and transparency as well as fighting corruption and those over the financial disclosure”, according to a government statement.
November 25, 2009
Analysis and Forecast: decreasing risk
Yemen is in dire needs of foreign investment as its income rapidly reduces due to its rapidly dwindling oil resources. There are serious hurdles that face foreign investments in Yemen, including legal, political, economic as well as serious security concerns. Although no details have been made about the nature of the reforms, including when they will be introduced, they are expected to help address some of those hurdles. However, for any legislative reforms to be effective, they need to be accompanied by political reforms as well as an improving security situation.
