Under the Auspices of the President of the Republic of Yemen Ali Abdullah Saleh

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1 Under the Auspices of the President of the Republic of Yemen Ali Abdullah Saleh Organized by Ministry of Industry and Trade in Yemen The Cooperation Council for the Arab states of the gulf- Secretariat general Diamond Sponsors Platinum Sponsors Gold Sponsors وزارة النفط واملعادن Tشركة احتاد املقاولني الûشركة اليمنية لالتüصاالت الدولية Dawood Trading Company Media Partner Official Carrier Silver Sponsors

2 The Republic of Yemen stands on the threshold of a new era of economic growth propelled by an integrated effort at economic reform and liberalization, and an ambitious ten-year development plan that is geared to preparing the Yemeni economy to converge with those of the Gulf Cooperation Council countries and the wider global economy. The ongoing reform program aims at the creation of an environment attractive to Arab and foreign investments by introducing modern investment and business laws and regulations, offering investors a whole range of incentives and exemptions, promoting and expanding the role of the private sector in economic life, improving government and public services, applying good governance principles and procedures, combating corruption, and reforming the judiciary and insuring its independence. The reform program is already attracting a growing favorable response on the part of investors, particularly that Yemen has a lot of latent opportunities to offer whether in terms of its natural resources, its tourism potential, the availability of low-cost labor resources, or many other attributes and advantages. Developments in the oil sector are but one reflection of a wider process of change underway in the Yemen with intensified exploration and development work leading to the wider participation of international oil companies through production sharing agreements. The oil sector in itself provides the basis for many other development objectives, including the establishment of a petrochemicals industry and the production of LNG. To shed more light on all that is happening in the Yemeni economy, as well as Yemen s growing relations with the Gulf Cooperation Council countries and their mutual interest in preparing the economic preconditions for Yemen s membership of the Council at a future date, the Yemen Ministry of Industry and Trade, in cooperation with the General Secretariat of the Gulf Cooperation Council and Al-Iktissad Wal-Aamal Group are organizing a two-day conference on Investment Opportunities in the Republic of Yemen which will be held in Sana a on April 22 and 23, This conference follows up on the success of the Yemen Donors Conference that was held in London in November 2006, and will feature an open discussion with the Prime Minister of Yemen and a number of concerned government ministers on all aspects and issues that relate to reform and economic development policies, as well as investment prospects and opportunities. The conference will bring together a number of Yemeni and Gulf ministers and officials, business leaders and investors from the region, national, regional and Arab development funds, representatives of the World Bank, the IMF and United Nations development agencies, economists, experts, and other interested parties. w w w. i n v e s t i n y e m e n. o r g

3 A BRIEF ON THE YEMENI ECONOMY Yemen s GDP grew at an annual average of 16% from 2001 to 2006, boosted by growing oil revenues which more than doubled during this period to exceed US$3 billion in While Yemen s currently proven oil reserves are limited compared with other Arab oil exporting countries, its oil industry is very promising as nearly 80% of the vast area that can contain reserves remains unexplored. A policy is in force to involve international oil companies in the exploration and development effort through production sharing agreements. Yemen has large unexploited resources including mineral deposits, a substantial agricultural potential, tourism resources and a low-cost labor force. On of the main aims of development policy is to build a strong industrial base, including petrochemicals and other heavy industries that can utilize available natural gas resources, and manufacturing industry to take advantage of the large domestic market and regional export markets. Geography, history and mutual economic interests make Gulf markets the natural outreach for the Yemeni economy. There is increasing interest on the part of Gulf investors in the many promising investment prospects and opportunities in Yemen, especially in light of the ongoing programs of reform and comprehensive development. Gulf governments were also the source of nearly half the US$4.6 billion in development aid committed to Yemen at the London Donor s Conference last November. The 10-year development plan that was prepared with the cooperation of the World Bank and other international organizations estimates Yemen s investment needs in major development projects at around US$48 billion.

4 Main Economic Indicators ( US$ million ) Nominal GDP Total Exports Total Imports Public Revenues Public Expenditures Official Foreign Exchange Reserves Consolidated Assets of the Banking System Source: IMF and Unified Arab Economic Report 2006

5 Highlights of the Conference Agenda The economic reform program and its conformance with ongoing reforms in the Gulf Cooperation Council countries. The evolving investment environment in its legal, organizational and economic policy components. The current state and future prospects of Yemeni-Gulf economic relations Infrastructure development plans and related investment opportunities. Investment opportunities in manufacturing industry, mining, and the industrial areas and free zones. Exploration and development work and projects in the oil sector. Investment opportunities in energy, agriculture and fisheries, tourism, and housing and real estate. Banking and finance laws and regulations and the role of banks in project finance. Case studies of foreign investments in Yemen. w w w. i k t i s s a d. c o m

6 Registration Form Investment Opportunities in the Republic of Yemen Conference I want to register for Investment Opportunities in Yemen Conference. I would like to sponsor Investment Opportunities in Yemen Conference. Please send information I would like to advertise in Investment Opportunities in Yemen Conference special Issue of Al-Iktissad Wal- Aamal magazine. Please send information I would like more information about promotional opportunities Please photocopy this form for additional delegates Preferred Full name (with title) for Badge االسم الكامل )مع اللقب) Occupational Title الوظيفة Company الشركة Mailing address Type of Business City Country Telephone Fax Website REGISTRATION FEE: 200 USD METHOD OF PAYMENT Registration is not finalized until payment is settled Deadline for registration 17/04/2007 Fee include conference papers, social events and coffee breaks. In case of cancellation: - 100% of the fee will be refunded before 10/04/ No refund is made after this date. Substitutes are welcome. Check drawn on New York (in USD), to the order of Al-Iktissad Wal-Aamal Bank transfer (in USD) to Banque Audi, Hamra branch, Beirut, Lebanon Account no: 18622/36 Swift Code: AUDB LB BX Credit Card: Visa Master Card Card No: Expiry Date: Signature of cardholder: Registration is not finalized until payment is settled TRAVEL & ACCOMMODATİON Upon registration, the Operations department will provide you with full details of accommodation facilities and rates. Please photocopy this form for additional delegates Lebanon: Tel: Fax: Saudi Arabia: Tel: Fax: Mobile: Jeddah: Tel: Fax: United Arab Emirates : Tel: Fax: Cairo: mobile: Fax: Kuwait: Tel: Fax: Mobile: Qatar: Tel: Fax: Mobile: conferences@iktissad.com,