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|MPs Oppose Law Allowing Foreigners To Own Domestic Real Estates|
Article Date: February 03, 2009
In the Tuesday's
parliamentary debate over referring a law allowing foreign investors to
own real estates in Yemen to a concerned committee, a number of MPs
rejected the idea saying the law is considered a threat to the country's
The MPs claim foreigners may think of taking domestic lands, criticizing the law under which non-Yemeni people would be treated as same as the locals.
Among the parliament's blocs against the project is the Islah Party which opposes the rule entirely.
Head of the bloc Mansour Al-Zindani called for realizing the difference between investment incentives laws and this law.
Other MPs who are in favor of the law say there is no legislation banning foreigners to have real estates in Yemen.
These MPs called for referring the law for the special committee as it calls for fair treatment with the nationals of the foreign countries in which Yemenis are allowed to possess real estates.
Though these MPs criticized some of the law terms, demanding they should be replaced by new ones based on local laws on public properties, they say the law is very necessary in a time better investment incentives must be provided for foreign investors amid the current global crisis.Others described the law as providing the opportunity to organize the process of the land possession by foreigners in Yemen.