By: Ahmed Hassan – Sadiq Hazbar
In line with the efforts of the Ministry of Economy, Trade, and Investment and the General Investment Authority in Yemen to develop a modern and attractive investment climate, Minister of Economy, Trade, and Investment, Eng. Maeen Ahmed Hashem Al-Mahagari, announced the Ministry’s focus on completing the infrastructure for electronic services and simplifying procedures for investors. This includes preparing an "Investor Services Guide" and adopting a "National Number" for the commercial registry, which will contribute to improving transaction efficiency and facilitating business establishment, thus positioning Yemen as a modern investment hub for both local and international capital.
The Beginning
The initial steps for implementing this project began with the agreement to form a coordinating framework between the Ministry of Economy, Industry, and Investment and the Ministry of Civil Service and Administrative Reform following a meeting between the two ministers at the end of August 2024. This framework includes simplifying procedures, developing a services guide, and organizing intensive training programs for employees to improve the speed and quality of services. This will support digital transformation, automate investment processes, and further enhance the investment environment with greater efficiency and progress.
Benefits of the E-Gateway for Trade and Investment
The e-gateway aims to provide a unified platform that allows investors to complete all their government transactions electronically with ease and speed. It will help standardize electronic transactions, monitor investment activities comprehensively, and ensure the confidentiality, accuracy, and security of user data. Investors will also have access to advanced tools such as e-signatures, electronic payments, and technical support available through multiple channels like chat and voice assistance.
Efforts by the General Investment Authority
Recently, the General Investment Authority launched the "Digital Platform for the One-Stop Investment Window," a pioneering step toward transforming government services for investors in Yemen. Mr. Yasser Al-Mansour, Chairman of the Authority, stated that the platform aims to provide a unified gateway for completing all investment procedures electronically, thus reducing bureaucracy, saving time, and making it easier to conduct business in the country.
Launch of the Platform
Eng. Mohammed Mashrah, Technical Director, explained that since the launch of the first phase of the project, the Authority has aimed to revolutionize transaction facilitation. The digital platform allows investors to submit applications, track transactions, and access comprehensive information and services all from one location. The platform is designed with user-friendliness in mind, providing services such as e-signatures, electronic payments, and technical support through live chat and calls, enhancing the user experience and providing an integrated solution.
Features
The Authority used the APQC framework to streamline and improve processes, ensuring high-quality digital services in line with international standards. This is part of the Authority's commitment to enhancing transparency and ensuring easy, fair access to information, thereby promoting integrity within Yemen’s business environment.
Phase Two
Phase two of the project is a crucial step, aiming to provide comprehensive digital components that can be used by various government agencies. This will facilitate the operation of new government services and expand interoperability between different systems.
Upcoming Launch of the General Investment Authority Digital Platform
Eng. Abdulrahman Al-Mahbashi, Head of the Facilitation Sector at the General Investment Authority, announced the upcoming launch of the digital platform, which aims to provide 14 essential services covering all investment procedures through a unified window. This will reduce complexities and facilitate electronic transactions. The platform will also feature multi-channel support services, including chat and voice calls, to meet investor needs and deliver a seamless experience. Furthermore, the platform aims to enhance transparency and governance by providing accurate and reliable information and continuous support from a specialized team to ensure ongoing platform development.
Economic Benefits for the Private Sector and Local Production
The private sector believes the first benefits of the e-gateway will be increased productivity. It will help boost the productivity of Yemeni companies by saving time, effort, and costs, potentially creating job opportunities as new investments flow in. The gateway will also aid in diversifying the economy by reducing reliance on a single source of income. It will improve the quality of products and services, encouraging Yemeni companies to enhance their offerings to meet global competition. Additionally, the gateway will promote exports by streamlining export procedures and marketing, attracting foreign direct investment, and transferring technology and knowledge to Yemen.
E-Commerce Law Project
Dr. Mohammed Abdulmalik Al-Mahbashi, Legal Advisor to the Chamber of Commerce and member of the e-commerce law drafting team, discusses the work underway to issue a law that governs e-commerce and provides legal protection for electronic transactions. He believes these regulations will attract investors by protecting consumer rights, boosting their confidence, and encouraging electronic investments, which will contribute to the growth of the national economy.
Importance of the Law for Investors
The law will provide a regulatory framework to ensure the security of electronic transactions, encouraging investors to expand their e-commerce activities in Yemen and facilitating the flow of foreign capital, creating more investment opportunities, and fostering economic growth. The law also requires e-commerce platforms to register and comply with cybersecurity standards, offering special protection to consumers, reducing fraud, and enhancing trust in Yemeni platforms.
Challenges in E-Commerce and How to Address Them
Despite significant progress, Yemen’s e-commerce faces prominent challenges, including technical issues related to ensuring cybersecurity to protect platforms and guarantee the confidentiality of user data. Another challenge is legal frameworks, as Dr. Al-Mahbashi highlights, stressing the need for an Information Technology Crimes Law to provide criminal protection for consumers and investors against cyber-attacks.
Comments