The new merchants are tearing apart the private sector, which has been rooted in Yemen for decades
English - Wednesday 17 February 2021 الساعة 03:38 pm
Aden, NewsYemen, Exclusive:
The expert group on Yemen said that 91 Yemeni commercial companies benefited from the mechanism of letters of credit from the Saudi deposit, but the Chamber of Commerce and Industry in Amanat Al-Asimah kidnapped by the Houthis denied that 91 companies had received approvals from the Saudi deposit.
Economists criticized the statement issued by the Chamber of Commerce and Industry in Amanat Al-Asimah, considering the statement a direct targeting of the largest industrial and commercial group in the country, and a push towards the trend that shows Hayel Saeed Group to monopolize the Saudi deposit, and not other Yemeni companies.
They said that the denial of the Chamber of Commerce in Amanat Al Asimah, which is controlled by the Houthis, that other Yemeni companies, along with Hayel Saeed’s companies, obtained preferential credits from the Saudi depositary, is a disruption of the private sector, which has been rooted in Yemen for decades and serves a parasitic sector based on the account of big commercial names that have their contributions to the economic process and meet Market needs.
The Hayel Saeed Anam Group was subjected to a wide media campaign targeting its reputation, against the backdrop of the report of the United Nations experts, with the complete absence of other companies that obtained credits from the Saudi deposit from the Central Bank in Aden.
Hayel Saeed Anam Group informed the UN Panel of Experts that although it receives, along with other merchants, exchange rates that are lower than the market rates or preferential exchange rates from the Saudi deposit, the discounts are transferred to consumers without any financial gain to the group.
The armed Houthi militia continues its strategy to control the commercial sector in the country, through its tireless work in fragmenting commercial entities and weakening their competitiveness.
The foreign trade activities that lead are now leading the private sector entities - the Chamber of Commerce in Amanat Al-Asimah - gradually replacing the traditional commercial activities.
Sources in the Ministry of Industry and Trade in Sana'a, which is controlled by the Houthis, confirm that what the Houthi group is doing comes according to a deliberate plan targeting merchants and investors who have a share in the market by striking and distorting their activities and stopping them for the benefit of new merchants and investors.
Sources in the Ministry of Industry and Trade in Sana'a, which is controlled by the Houthis, confirm that what the Houthi group is doing comes according to a deliberate plan targeting merchants and investors who have a share in the market by striking and distorting their activities and stopping them for the benefit of new merchants and investors.
