Organized by the Ministry of Economy, Industry, and Investment Over Two Days
General Investment Authority Participates in Consultative Meeting on E-Commerce Law Draft
Minister Al-Muhaqari: The Government of Change and Development Prioritizes Automation of All Government Services
Media Management/Special
The General Investment Authority, represented by Engineer Mohammed Ahmed Al-Fazari, Head of the Promotion Sector, participated in the consultative meeting on the draft e-commerce law organized today, Tuesday, October 15, 2024, by the Ministry of Economy, Industry, and Investment. The meeting, attended by a wide range of government entities and private sector representatives, will continue for two days under the patronage of His Excellency Engineer Moein Hashem Al-Muhaqari, Minister of Economy and Industry.
In his opening remarks, Minister Al-Muhaqari emphasized that the ministry will spare no effort in drafting new laws aimed at enhancing economic, investment, and production activities in the country, while keeping pace with global advancements in technology, digitalization, and artificial intelligence. He highlighted the importance of the new electronic transactions law, which aims to regulate e-commerce in Yemen and stimulate the community-based economy in light of the rapid growth in global finance and business, as well as the technological innovations shaping e-commerce and electronic transactions across all sectors.
The minister reiterated that the Government of Change and Development places the automation of all governmental work and services at the top of its priorities to provide services digitally to the public. He stated that the ministry is working swiftly to digitize all its services, with the next few months expected to witness the automation of all services in a streamlined and efficient manner, thus fulfilling the government's commitment to taking the national economy to new levels of growth and progress.
He stressed the urgency of issuing a law to regulate e-commerce, protect the rights of all parties involved, and safeguard consumer interests. The issuance of an e-commerce law has become an urgent necessity in light of the rapid growth in online commerce, driven by the requirements of evolving global trade.
Minister Al-Muhaqari also noted the need for the law to remain flexible and adaptable, allowing for modifications and updates to meet the evolving demands of e-commerce in Yemen and support the national economy.
During the meeting, the Chair of the E-Commerce Committee, Ms. Altaf Al-Ghafari, gave a presentation on the concept of e-commerce, the stages of drafting the law’s preliminary version, incorporating feedback from relevant stakeholders, and the legal references on which the draft law is based, as well as an overview of the law's sections.
Representatives from the relevant government entities, companies, and private sector organizations involved in e-commerce also participated, offering their input on the draft law and submitting written suggestions for inclusion.
The General Investment Authority was additionally represented by Mr. Yasser Ismail, Director General of Follow-Up.
The consultative meeting is scheduled to continue on Wednesday to finalize discussions on the draft e-commerce law.
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