At the beginning of the spring season in 2012, an elite group of business leaders, economic experts, and representatives of civil society organizations were forming a unique development initiative. They engaged in deep and profound discussions regarding the future of Yemen, at a time when the situation in the country was wide open to all possibilities and scenarios.
Yemen was on a hot tin plate, or a "burning platter," following a youth-led revolution that lasted for an entire year. This revolution resulted in the Gulf Cooperation Council (GCC) Initiative, which was followed by a period of relative calm accompanied by hopes and dreams that Yemen would write a new chapter of renaissance and construction, alongside a feeling of extreme anxiety that the country might slide toward a total collapse.
Following intensive meetings held in the Dead Sea in Jordan, they decided to launch a voluntary initiative that became known over a decade and a half as the Economic Reform Team (ERT). It was this team that formulated the very first matrix of economic priorities, representing a development roadmap for Yemen in the post-so-called "Arab Spring" era. The team played an active and effective role in donor conferences and the Yemen’s National Dialogue Conference (NDC), contributing to the making of economic policies and attempting to rectify them in a way that serves the Yemeni citizen and preserves their dignity over many years.
Over the course of three days, more than 22 presidents of the main chambers of commerce and industry in Yemen, representatives of commercial groups, economic experts, and representatives from the most prominent civil society organizations were putting the final touches on the Priority Matrix. This initiative was organized by the Center for International Private Enterprise (CIPE), in partnership with the Studies and Economic Media Center (SEMC) and the Yemeni Business Club (YBC), following a precise and meticulous diagnosis of the massive challenges Yemen was facing across all levels.
The ERT’s discussions were not confined to closed rooms; rather, they transferred that debate to a wider community of development actors across various governorates. The team conducted discussions with representatives of the chambers of commerce and industry in Sana'a, Aden, Taiz, and Hudaydah. With the active contribution of economic experts, this effort culminated in enriching five main priorities that formed the pathways of work at that stage. These priorities were: Security and the Rule of Law; the Constitution and Dialogue; Employment; Effective Partnership between the Government, the Private Sector, and Civil Society; and Infrastructure.
Specialized experts prepared policy papers for these five priorities, which were then discussed with the relevant government parties and constituted one of the fundamental inputs for the "Development Priorities Conference" held on May 12, 2012, not to mention their integration into approved government plans and policies. In that conference, which was attended by eight Yemen’s cabinet ministers and more than 270 male and female participants from various sectors, the Yemeni Prime Minister at the time, Mohammed Salem Basindwa, announced the formation of a joint entity bringing together the government, the private sector, and civil society. This represented a major step toward building Yemen according to a shared vision contributed to by all Yemeni parties.
- Diversity and an Active Presence
The core, solid bloc of the genuine and influential private sector falls under the framework of the team. This bloc is composed of the heads of the main chambers of commerce in Sana'a, Aden, Hadramout, Taiz, and Al-Hudaydah, before Seiyun joined them in recent years. The team formed a unique diversity in its membership and its representation of the Yemeni private sector, both industrial and commercial, and across various economic sectors in Yemen.
Everyone was fully aware of the sensitivity of the situation Yemen was experiencing; therefore, the team designed its vision around three main tracks, most notably: preventing society from falling into the cycle of economic, social, and humanitarian disasters; absorbing young people and enabling them to obtain job opportunities; and applying the principles of governance and effective partnership among all components of Yemeni society.
The team represented an advanced stage of awareness regarding economic challenges, particularly those associated with utilizing external funding. Therefore, at the International Donor Conference for Yemen held in Riyadh at the end of 2012, the team presented a proposal to the International Fund for Supporting Development. This was the first institutional blueprint for managing donor funding through a tripartite partnership. This proposal, which the team reviewed at one of the most important international conferences dedicated to supporting Yemen, came as a result of an urgent need; indicators and figures had revealed Yemen's weak capacity to absorb donor pledges, particularly six years after the Fourth Consultative Group Meeting held in London in 2006 and the announcement of a large package of financial pledges to support Yemen at that time.
All of these visions and concepts presented by the team served as the bedrock for a relentless and diligent effort carried out by the team through its representatives in the Comprehensive National Dialogue Conference (NDC). The Chairman of the ERT, Mr. Ahmed Bazara, chaired the Development Committee at the National Dialogue Conference, which lasted for nearly a year. Meanwhile, other ERT members, Youssof Al-Kuraimi, Dr. Najat Jumaan, Khalid Abdulwahid Noaman, and Jamila Ali Raja (who serves as Yemen's current Ambassador to Washington), among others, participated in many important committees within the framework of the NDC. The NDC resulted in the most important document in the recent decades of modern Yemeni history.
The ERT played an active role in submitting proposals for the economic foundations and principles included in the draft of the new Yemeni Constitution, which was prepared as one of the outcomes of the National Dialogue Conference (NDC) in 2014, just before Yemen entered a devastating war that dragged it back by years, if not decades!
All of these efforts formed an important foundation for the most significant historic event in the relationship between the government and the private sector over decades. In November 2014, a Memorandum of Understanding (MoU) was signed in Washington, D.C. between the Yemeni government and the private sector. It included practical steps to institutionalize dialogue between the two sides, including the creation of the Economic and Social Council and the development of a joint reform matrix containing specific, clear issues, goals, and working mechanisms between both parties.
- War and the Imposition of New Variables!
With the outbreak of the Yemen’s war in late 2014, the country entered a new turning point of challenges on all fronts. The Economic Reforms Team (ERT), given that it includes business leaders from all regions of Yemen, had to deal with this transformation with a deep sense of responsibility. ERT members led major field initiatives in relief operations and humanitarian efforts, particularly in governorates that witnessed a collapse in the infrastructure of official institutions and severe humanitarian crises, such as Taiz, Aden, Al-Hudaydah, Sana'a, and other governorates.
Before international organizations concerned with humanitarian relief intervened, the team members were already present on the ground. Interventions were not limited to direct relief work; rather, efforts extended to supporting hospitals, providing water, and contributing to supporting displacement camps and sites!
The inspiring initiatives varied widely. In Aden, a voluntary coalition kicked off to lead relief and humanitarian work; in Hadramout, the hand of the private sector extended to receive internally displaced persons (IDPs) and secure their basic requirements; and in Taiz, Sana'a, and Al-Hudaydah, many team members led efforts to support hospitals, cleanliness campaigns, kidney dialysis centers, and confront all the humanitarian disasters produced by the war. All of this was done without clamor, carried out with utmost responsibility, and with total preservation of the dignity of those in need.
In 2015, Yemen slid into a catastrophic war whose repercussions reflected upon a developing country like Yemen in the form of complex, compounding crises, chaos, and a complete absence of horizons. This prompted the ERT to radically reconsider its priorities. In its strategic meeting at the beginning of June of the same year in the Jordanian capital, Amman, the challenges emerged clearly and the mission appeared urgent; thus, the team decided to operate as a continuous emergency cell to confront the humanitarian crisis.
In a subsequent meeting held in November 2015 in Istanbul, discussions focused on the role expected from the private sector in providing goods and services, contributing to the restoration of peace, supporting economic reforms, building the state, and restoring its institutions. This took place in parallel with a joint dialogue with representatives from civil society who share the same vision and the will for change. These discussions led to drawing a roadmap based on two parallel tracks: the first is mitigating the severity of the humanitarian crisis through direct interventions, initiatives, and providing economic visions and policies; the second is working seriously on peacebuilding, supporting recovery, and reconstruction, while strengthening communication with various local and international parties to neutralize the economic interests of citizens from the conflict.
The ERT’s strategic meeting in July 2016 in the Jordanian capital, Amman, represented a crucial turning point. The team transitioned from being an "initiatives team" into a formalized economic advisory entity carrying a national rescue project, while solidifying its role as an inclusive umbrella for the Yemeni private sector and diagnosing the crises of financial collapse, liquidity shortages, economic disruption, and the destruction of facilities. Following this, working groups were formed to prepare visions to address imbalances in monetary policy and the flow of goods, and to crystallize an integrated conception of the private sector's role in recovery and reconstruction.
Furthermore, its strategic plan for the year 2017 represented a qualitative leap through the adoption of six main tracks combining reforms within the private sector and macro-critical economic priorities such as currency stability, commodity importation, and the energy crisis. This fell within a dual vision that supports the resilience of the private sector and prepares for a competitive post-war economy, in parallel with prominent emergency responses such as intervening to confront the cholera outbreak, and later the COVID-19 pandemic, by supporting health facilities, providing equipment, and aiding doctors to ensure the continuity of services.
- ERT Vision for Recovery and Reconstruction
In parallel with the urgent challenges that the team focused on, including adjusting the course of monetary policy and reducing obstacles preventing goods from reaching citizens, strategic issues remained ever-present, foremost among which were economic recovery and reconstruction. In this context, the team presented a series of policy papers that contributed to improving the management of monetary policy and mitigating the deterioration of the currency. The team also engaged in intensive discussions that resulted in lifting the ban on the entry of hundreds of commodities into Yemen directly, which supported the flow of supplies to the markets.
Within the framework of its "Economic Recovery and Reconstruction Vision" issued in 2017, the ERT laid down an integrated roadmap that balances sustaining economic activity during the war and early preparation for the post-peace phase, proceeding from its realization of the pivotal role of the private sector in creating job opportunities and providing goods and services. The vision addresses two potential scenarios:
- The Continuation of the Conflict: Where it focuses on supporting livelihoods, enhancing the flow of goods, stabilizing the currency, and empowering Small and Medium Enterprises (SMEs).
- Reaching Peace: Where priorities shift toward rebuilding state institutions, rehabilitating infrastructure, stimulating economic growth, and preparing an attractive investment environment.
The vision also emphasizes that the success of reconstruction requires an effective partnership between the government, the private sector, civil society, and development partners, within institutional frameworks that guarantee good governance and the efficiency of resource allocation, offering an integrated conception that combines managing the current crisis and building the foundations of sustainable development.
- A National Rescue Project
Over more than fifteen years, the team’s periodic meetings, both annual and monthly, have formed a rare model of sustainability in voluntary action within Yemen, backed by emergency efforts that responded to the complexities of the political, economic, and security environment. Throughout this journey, the ERT emerged as an influential force in shaping economic policies; despite the fragility of state institutions, it succeeded in pushing some of its proposals into implementation, most notably the creation of an Economic Advisory Team for the government in 2018.
With the arrival of the year 2020, its impact expanded to the local level through the formation of branches in Aden, Sana'a, Taiz, and Hadramout, which led discussions and partnerships with local authorities to improve the business environment and enhance the resilience of the private sector. The team presented dozens of studies and policy papers to confront sudden emergencies and chronic imbalances, amidst acute crises such as monetary depreciation, liquidity shortages, and the duplication of fiscal policies, successfully maintaining the role of the private sector as a vital economic artery kept far away from the conflict.
On both the local and international levels, the team marked its presence in multiple forums and presented visions and solutions, drawing upon the expertise of its members consisting of private sector leaders and economic experts. With the convening of its meeting in Seiyun in November 2025, the team entered a new phase focusing heavily on development issues, proving after this long journey that it is no longer just a temporary initiative, but rather a premier national platform for economic dialogue and a vital bridge between the state and the private sector, continuously striving to spare the economy the heavy cost of conflict and propel it toward recovery and stability.
By: Mustafa Nasr, Chairman of the Studies and Economic Media Center (SEMC)