Yemen is a presidential republic located on the Arabian Peninsula bordered by Saudi Arabia to the North, the Red Sea to the west, the Arabian Sea and Gulf of Aden to the south, and Oman to the east. The constitution dictates that power is shared between an elected president as head of state, an elected 301-seat House of Representatives headed by the prime minister, and an appointed 111-member Consultative Council.
Yemen is an open economy that welcomes foreign direct investment. Oil exports bring in two thirds of the government’s income and 90% of export revenues. However, oil reserves are expected to be depleted by 2017. In addition to oil, Yemen has large reserves of natural gas and the country’s first liquefied natural gas (LNG) plant entered production in late 2009.
Deloitte in Yemen is part of a regional network of firms in the Middle East as well as a member of the global Deloitte Touche Tohmatsu firm. We recognize that the special requirements of small businesses are very different from those of multinational corporations and we have the experience and the understanding to meet the needs of both. With the strength of our global organization behind us, we offer small and large companies the best of both worlds. Our personal attention and specialized knowledge are combined with the global resources and expertise of a major global organization.
Just as we’ve played a vital role in the growth of Yemen to date, we’re also very much a part of its future. Deloitte has identified the Middle East as a priority market that represents superior growth opportunities. As such, our Middle East firms, operating in 15 countries and employing almost 2,500 professionals across the region and including Yemen, have been targeted for major investment. This is accompanied by a focused strategy of expansion in key business areas and a continued emphasis on recruiting and retaining the most talented professionals from the region and other countries to serve Middle East companies.
Our clients benefit from the breadth and diversity of our resources in helping them manage their growth and broaden their presence in the global economy. Combining the global insight and innovation of a worldwide firm with local knowledge and industry expertise, our people offer powerful business solutions that help our clients excel.
To address the growing market needs, we have expanded our specialized professional services in the Middle East, leveraging our local and global talent in areas such as Financial Advisory Services, Enterprise Risk Services and International Tax Services. We have also continued to play a pivotal role in serving the region’s high growth industry sectors such as tourism, hospitality and leisure, construction, telecoms and financial services, as well as major sectors such as oil and gas, the public sector and the Gulf region’s sovereign wealth funds. Our Middle East knowledge centers area testament to our specialized capabilities in strategic services and industries.