SANA’A, Feb.16 (Saba)- Minister of Industry and Trade Saad Eddin Bin Taleb has emphasized the need to expedite the creation of a securities market.

"The stock market project has not received any support since 1997 until today, despite its importance in attracting local and foreign investments", bin Taleb said Saturday, at the opening of the first forum for shareholding companies, organized by Ministry of Industry and Trade with the participation of 120 participants.

He pointed out that the "stock market" is a good indicator of the government and the economic development, and provides an opportunity for many people to contribute in companies.

The minister bin Taleb considered the forum a first step toward caring for the shareholding companies as well as stimulating the investment in this type of companies that contribute to the economic development.

He called for the need to end the phenomenon of economic potentials acquisition by force of arms or tribe.

Bin Taleb explained that the deterioration of the economy was as result of controlling it by a few people, as well as because of the corruption and ignorance.

“If the situation is not fixed in the governance and the economy and the distribution of wealth, we are heading to failure”, he said.

The forum discussed a number of working papers submitted by the Accountants Association, Saba Islamic Bank and Ministry of Industry and Trade on the qualitative composition of the companies in the country and characteristics and advantages of the shareholding companies and the importance of the securities market ,shareholding companies, corporate governance and social responsibility.

BA
Saba