Yemen Makes ‘Concrete Progress’ in Forming New Govt.

A general view of the interim Yemeni capital Aden in 2018. (Reuters)
A general view of the interim Yemeni capital Aden in 2018. (Reuters)
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Yemen Makes ‘Concrete Progress’ in Forming New Govt.

A general view of the interim Yemeni capital Aden in 2018. (Reuters)
A general view of the interim Yemeni capital Aden in 2018. (Reuters)

“Concrete progress” has been achieved in recent days over the formation of a new Yemen government after parties agreed on the distribution of shares, revealed Western and Yemeni sources on Sunday.

“Yemeni political parties reached an agreement concerning the division of ministerial portfolios between the North and South,” the sources said.

In recent days, Yemeni President Abdrabbuh Mansur Hadi had stressed the need to expedite the process of implementing the Riyadh Agreement, which is required to unite Yemeni parties and to confront the Iran-backed Houthi militias.

Government spokesman Rajeh Badi told Asharq Al-Awsat: “Consultations are going in the right direction towards reaching understandings between the various participating parties.”

The spokesman added that understandings are about to be reached between northern and southern Yemen on the distribution of ministerial portfolios based on the mechanism to accelerate the implementation of the Riyadh Agreement.

“All parties are keen on implementing the Agreement, and everyone is aware of the gravity of the economic and military situation in the country,” Badi said.

Signed between the legitimate government and the Southern Transitional Council in August, the mechanism to accelerate the implementation of the Riyadh Agreement calls for forming a new 24-minister government. Portfolios will be distributed equally between North and South Yemen.

Badi said, “Obstacles that some parties considered immense, were not that grave,” praising the support of Saudi Arabia to facilitate those talks.

“Our Saudi brothers are keen on removing any obstacle hindering Yemeni stability and they support easing the suffering of the Yemeni people at the hands of the Houthis,” he said.

Yemeni media had in recent hours published leaks related to the distribution of shares in the new government. However, no official sources confirmed those reports.

Meanwhile, British Ambassador to Yemen Michael Aron told Asharq Al-Awsat that all signs indicate that a breakthrough is about to be reached in the formation of a new cabinet.

He said that “good news” may be on the way.



Syria’s Finance Minister Says Foreign Investors Welcome after US Sanctions Move

A girl holds a Syrian flag, as people celebrate after US President Donald Trump said on Tuesday he would order the lifting of sanctions on Syria, in Damascus, Syria May 13 , 2025. (Reuters)
A girl holds a Syrian flag, as people celebrate after US President Donald Trump said on Tuesday he would order the lifting of sanctions on Syria, in Damascus, Syria May 13 , 2025. (Reuters)
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Syria’s Finance Minister Says Foreign Investors Welcome after US Sanctions Move

A girl holds a Syrian flag, as people celebrate after US President Donald Trump said on Tuesday he would order the lifting of sanctions on Syria, in Damascus, Syria May 13 , 2025. (Reuters)
A girl holds a Syrian flag, as people celebrate after US President Donald Trump said on Tuesday he would order the lifting of sanctions on Syria, in Damascus, Syria May 13 , 2025. (Reuters)

Syrian Finance Minister Yisr Barnieh made a call to global investors on Wednesday to come do business with Syria after US President Donald Trump's surprise announcement that he would lift all of Washington's sanctions on the country.

"Syria today is a land of opportunities, with immense potential across every sector—from agriculture to oil, tourism, infrastructure, and transportation,” Barnieh said in an interview with Reuters at the Finance Ministry in Damascus.

"We envision a central role for the private sector in the new Syrian economy. The finance ministry's role is not to spend indiscriminately or act as a regulatory enforcer over businesses, but rather to enable and support growth."

A wall outside his office still bore the discolored outline of one of the many posters of former strongman Bashar al-Assad that used to hang in Syria's public buildings before his ousting by the Hayat Tahrir al-Sham (HTS) last year.

Changes in Syria have been swift since Assad fled to Russia in December of last year.

HTS commander Ahmed Sharaa was appointed president, formed a government and had quick success garnering Gulf Arab support and getting most European sanctions lifted.

The stunning turn of events was capped by a meeting between Sharaa and Trump in Riyadh on Wednesday after Trump's pledge to cease US sanctions imposed on Syria under Assad-family rule, measures widely seen as the biggest external obstacles to the country's economic recovery.

Trump has not set out a timeline for removal.

"One of the most critical outcomes of lifting sanctions would be Syria's reintegration into the global financial system," Barnieh said.

"This would allow us to restore financial flows and attract investments, which are urgently needed across all sectors,” he said, adding that Syrian authorities have already seen strong interest from Saudi Arabia, the UAE, Kuwait, Qatar, and several EU countries, among others.

He noted that the government is undertaking a comprehensive overhaul of public financial management, including reforms to the tax system, customs, and banking -- part of a broader effort to modernize an economy long burdened by an oversized public sector.

He also struck a cautioning tone, saying that the removal of sanctions would be just the first step in a years-long recovery for a country ruined by 14 years of war.

"The lifting of sanctions is not the final chapter," he said.

"We cannot afford to become complacent. We are entering a new phase that demands real results and visible progress on the ground."