ICD, Yemen, TOBB pledge cooperation 

(MENAFN - Arab News) Khaled Bin Al-Aboodi, CEO of the ICD, Yahya bin Yahya Al-Mutawakkil, minister of industry and trade of Yemen, and TOBB President Rifat Hisarcikhoglu signed the MOI.

The MOI aims to launch and facilitate cooperation and coordination among the three parties in the formulation, development, promotion and implementation of industrial zones in Yemen as a model of special economic zones based on partnership between the public and private sectors through the use of the Turkish experience in organized industrial zones as well as the international best practices and experiences.

The areas of cooperation between the parties according to the stages of the project will include coordination on project development activities, coordination related to mechanisms of the structuring and financing of the project and coordination related to mechanisms and activities to implement and promote the project to investors from Turkey and GCC in addition to other international investors.

The Yemeni government is making arrangements for establishing specialized industrial zones on government lands approved and defined in the governorates of Aden, Lahj, Hodeidah and Hadramout, and others. The ICD is investing and providing financial servyyices in accordance with the rules of Islamic Shariah, as well as providing advisory services to public and private sectors.

The TOBB is the official and constitutional representative of the Turkish private sector and has the willingness to transfer the know-how of Turkish private sector for the development of Yemen and particularly contribute to private sector development process in Yemen.