Monday 5, August 2002
Vol 1 - Issue 04

New facilities to pay customs fees planned

Manama: Bahrain's businesses may be able to pay many fees related to import of goods through local banks. Customs authorities are discussing the move with Bahrain's banks to avoid delays in the payment of fees. C computerization of many services, currently done manually, was also set to become a reality early next year. Many of the issues raised by the business community have been successfully addressed; there are some outstanding issues, according to government officials. These include computerisation of many services, such the payment of tariffs, handling charges and the handling of import/export documents. "All of this is done manually and the process is very slow. We would like them to speed this up," said a top official.

posted 5^th August 2002

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Yemen amends investment law

Sanaa: Yemen has amended its investment law to offer greater incentives to foreigners and lure much-needed funds. The new law bans the government from seizing or nationalising foreign projects. It also allows investors to transfer profits out of the country without restrictions. Under the law, raw materials for agricultural projects are fully exempted from customs tariff, while fees would be halved for industrial and other projects. It also eases conditions for foreign participation in local firms.

posted 5^th August 2002

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