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Time: 2:37:57 AM
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For investing in the sector of "Free Aden Zone" The receiving requests are increasing
The volume of approved investment requests related to the "Free Aden Zone", and estimated till last February 1998, has reached in terms of non-local investors the value of 232 million American dollars; while the same for local investors also around ten billion Yemeni rials. The work is now continuing on this project of "The Free Zone", but is expected to finish by the end of 1999. It is to be noted that the foundation stone of this project was laid down in last August 1996 (2.5 years).
This increasing demand of investing in the "Free Zone" from the internal and external business sectors wholly gives an indicator of promising prospects in the near future that is awaiting to turn in reality upon the region. However, it is something really great for Aden Port which has its particularly natural, geographic and human features and privileges. These have been acquired for a period of one and quarter of the century by Aden Port, when it played the major role as the pioneer in the "business empire" of international navigation and commerce i.e. before the independence of ex-Southern Yemen in 1967. Among those privileges and general characteristics had been the historical status and fame acquired by Aden Port throughout all that period of time. The main reason being its excellent location which is defined very much close to the international marine route. That used to mean a facility for all ships through saving their time and freight costs by the privilege of not diverting, or, adjusting their passages in every marine journey they were scheduled to take. As estimated in general during that period, the saving time had been ranging between 3day to 17 hours per each trip taken for every cruising line. Aden port has been distinguished a meeting point for most navigation lines of the east and west, and as such it is qualified to a first-grade service harbor. In addition, it is equally suitable for meeting the demand of both the free trade and business of marine inter-crossing route. The location, too, is distinguished by having available the natural infrastructure foundations that assist in formulating a good safeguard for the harbor's elevated sections and water-way beds from the high tides and waves. In addition, there is an adequately safe-anchoring area that allows the ship to board on the decks and bunkering spots that are widespread in the terminals. The necessary installations can be constructed either on the wide floor area found behind the wharfage deck, or on other spaces extending elsewhere around the port. Aden harbor is equipped with the financial and human facilities and capabilities that may stand against foreign competition, while at the same time formulate an attractive element for the shipping liners and big tankers carrying commodities. In utilizing all such factors, many economic privileges should arise. This would ultimately lead to having Aden a free Zone. In turn, that situation would certainly contribute in improving the living standard of the people; re-adjustment of distribution of the wealth; increasing the opportunities of employment; and up-leveling the ratio of both incomes of the Yemeni local in particular and the community in general. _________________________________ Source: A concise press report published by "Al-Khalig" UAE's newspaper, issue No.6879 date 20/3/98