Aden (South24 Center)

The Ministry of Industry and Commerce in the capital Aden announced on Sunday (August 24) the cancellation of 508 trademarks for failure to complete legal procedures, as well as the removal of 1,902 trademarks for non-renewal, and the delisting of 6,371 commercial agencies not renewed with the ministry's registry.

In an official statement, the ministry emphasized it will continue to cancel and remove any dormant agency, registration, or trademark that has not been activated, renewed, or completed its legal procedures.

The ministry confirmed that this step forms part of the economic reform efforts to enhance central revenues and address what it described as traders’ abstaining from renewing their trademarks and agencies in Aden while going for renewals through the Houthi authorities in Sana'a.

The announcement coincides with intensified market monitoring through the ministry's provincial offices and expanded field campaigns, alongside what it termed as a phase of economic recovery and improvement in the national currency's value.

The Yemeni rial has shown notable improvement during August, stabilizing at approximately 1,617 rials per US dollar and 428 rials per Saudi riyal. This follows its previous decline in July when it sank below 2,900 rials per dollar and 750 rials per Saudi riyal, which precipitated a severe living crisis.

This campaign represents one of the most significant measures taken by the Ministry of Industry and Commerce since the beginning of the year, as the Yemeni government faces accumulated economic challenges. 

Observers have concurrently accused certain official entities of negligence in tackling commercial and administrative corruption.