Business

YBC Encourages Family Businesses

National Yemen

The Conference of Families Companies

Wadah al-Shalili – Aden

On December 27th, Yemen Prime minister Khaled Bahah, inaugurated the 4th annual conference of the families companies in partnership with the  Yemen Business Club (YBC). The definition of the YBC activities and work, was given by YBC chairman Fathi Abdulwase Hael, reportage about Aden, and a word from the conference’s official sponsor Prime Minister Khaled Bahah was released on the occasion.

After the opening ceremony, two sessions started. The first session was headed by Prof. Dawood al-Haddabi. Three family businesses presented their experiments in Aden that represent the cradle of family businesses and economic development in Yemen.

The second session, headed by Ahmed Bazrah, offered three papers on the future of family businesses, their role in the implementation of the National Dialogue outcomes and the internal challenges of family businesses.

The participants in the Conference came out with some recommendations:

  • The importance of the leadership role and economic status of the economic capital Aden through the Declaration of Aden Free Zone by special legislation.
  • The recommendation of the government to re-nationalize the private sector property in the Aden to promote trust between the government and the private sector and encourage contributions for safe investment to create jobs and enhance development work in Yemen.
  • The quick establishment of the Economic Council of the private sector by not less than 50% to promote genuine partnership among the private sector represented by family businesses to contribute to the promotion of the community development process.
  • Recommend the government in coordination with the private sector to issue a special law for family businesses as a result of its leading role in development and to ensure its continuity and development.
  • Motivate family businesses to care for institutional work, educate and rehabilitation of future generations to be able to manage the family business efficiently and effectively.
  • Circulating family culture and its value and ethical system from childhood for all families and promote the common understanding and guide future decision-making process of family businesses.
  • Encourage the founders of family businesses to prepare future generations and avoid any conflicts and differences during their lives and enable their children to take responsibility for their presence.
  • Take advantage of the success stories and challenges faced by family businesses in order to promote Yemeni strengths and face challenges through the development of clear constitutions.
  • The announcement of the Aden Foundation for Human Development.