Yemen's government has decided to launch a stock exchange to encourage investment, central bank governor Abdelrahman Samawi said Wednesday. "It's a big step which will encourage investments and attract foreign capital," Samawi told the official SABA news agency.
"Yemen will benefit from the experience of pioneering Arab countries in this field," he added. He urged the authorities to "ensure the conditions necessary for the success of the financial market, headed by transparency which must be guaranteed by a strong judicial system and well-defined laws."
The government, at its weekly meeting Tuesday, charged the central bank and the finance minister with producing within two months the relevant paperwork for the establishment of the bourse, SABA said.
© Agence France Presse 2000
© 2000 Mena Report (www.menareport.com )