Sana'a - Saba:
The Parliament, headed by its speaker Yahya al-Ra'i, on Sunday approved the draft investment law after thorough discussion and voting.
The law aims to:
Attract Investment: Create a favorable environment for both domestic and foreign investment in Yemen.
Stimulate Economic Growth: Encourage investment in key sectors like manufacturing, agriculture, and infrastructure.
Promote Local Production: Reduce reliance on imports and increase local production.
Support Small and Medium Enterprises: Foster the growth of small and micro-enterprises.
Public-Private Partnerships: Strengthen collaboration between the public and private sectors.
The law outlines the responsibilities of the General Investment Authority, including developing investment strategies, providing support services to investors, and conducting research on the investment climate.
The passage of this law is expected to play a crucial role in revitalizing the economy and fostering sustainable development.
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