Sana'a: The Economic Policy Team at the Ministry of Economy, Industry, and Investment held an expanded meeting to discuss the final drafts of the project aimed at updating economic policy tools. The meeting was attended by key figures including the ministry's undersecretaries for policy and studies, Fouad Al-Junaid, and for Foreign Trade and Export Development, Fouad Huwaidi, along with representatives from the Ministry of Finance, the Central Bank, the Investment Authority, the Sana'a Chamber of Commerce, the Federation of Chambers of Commerce and Industry, and the Planning Sector of the Cabinet. They reviewed the final drafts of the project and incorporated feedback from relevant stakeholders to improve the outputs and align them with the requirements of the current phase.
According to Yemen News Agency, the Undersecretary for Policy and Studies, who also heads the team, explained that the project, launched six months ago, is based on building a matrix of challenges and actionable solutions. This strategic tool aims to dismantle imbalances and transform them into implementable action plans, clearly defining responsibilities and setting precise timeframes for implementation. Its priorities are inspired by the partnership and collaboration between the government and the private sector.
The methodology employed involves specialized research and studies, with a precise identification and classification of all current and future challenges. It uses an effort-impact matrix to devise solutions that achieve the highest developmental return with minimal effort and resources. Furthermore, policies are placed within the scope and authority of the relevant entities to prevent overlapping responsibilities and ensure flexible performance and integrated roles.
The meeting approved the final package of documents and matrices stemming from the project. These included documents for updating fiscal and monetary policy tools, a document for updating industrial policy tools, and a document for updating trade and investment policy tools. It also approved the matrix for diagnosing economic policy tools and recommended formulating and compiling the most prominent economic recommendations emerging from the discussions. These will be submitted in their final form along with all approved documents to the Ministers of Economy and Finance, in preparation for submitting them to the Cabinet for approval.