Yemeni President Abd Rabbuh Mansur Hadi
Sanaa – Ali Rabea
Yemeni President Abd Rabbuh Mansur Hadi has ordered his government to "freeze issue procedures" of the new investment law in Yemen
, expressing his concerns about the impact of such a law on the State.
Official government sources, said that President Hadi ordered Mohamed Salem Basendawa, the President of the Council of Ministers, to "stop procedures which seek to issue a new investment law."
Official sources said that Basendawa transmitted Hadi's letter to the minister of legal affairs and chairman of the general authority for investment.
The Yemeni government faces difficult challenges with respect to resources as a result of repeated explosions of the oil pipeline.
Officials and economists have warned that any changes in Yemen's investment legislation may lead to a significant decline in the State's public revenue.