The Zubidi prevents Ben Mubarak from approaching the accounts of the Aden Ports Company in order to maintain a partnership with the Abu Dhabi Group

Vice Chairman of the Presidential Leadership Council, Aidaroos Al-Zubaidi, rejected the directives of Prime Minister Ahmed bin Mubarak regarding allowing the Central Oversight and Accounting Organization to review and examine the accounts and work of the “Aden Ports Development Company.”

Recently, Al-Zubaidi sent a memorandum to the Prime Minister instructing him to stop demanding this, and revealed the existence of negotiations with the “Abu Dhabi Group” and the Aden Ports Corporation for joint investment, which is necessary to maintain the success of this strategic partnership, and to be satisfied only with seeing what the company’s chartered accountant approves.

Al-Zubaidi concluded his letter with a warning from Bin Mubarak, considering it a “final” directive from him.

What happened?

 The background to this strict directive from Al-Zubaidi to the head of the Yemeni government is due to a memorandum sent by Bin Mubarak, dated June 10, to the CEO of the Aden Ports Development Company, in which he warned him of the consequences of continuing to refuse to enable the Central Organization for Control and Accounting team to examine the work, accounts, and records. The company..

The introduction to the Prime Minister’s memorandum states that the CEO of the aforementioned company did not implement previous directives dated 3/13/2024, in which he asked him to “enable the Central Organization for Oversight and Accounting team to review and examine all of the company’s work for the year 2023, and to enable him to obtain all the necessary data, records, and documents.” .

A letter to the Central Agency stated that “the team was prevented from entering the company’s headquarters, and was not enabled to review the company’s business and accounts since 1/11/2024,” Ben Mubarak’s memorandum says.

Accordingly, Bin Mubarak, the company’s director, directed that “the agency’s team be empowered to review all the company’s work, and be able to obtain all documents and records urgently,” warning: “Unless strict legal measures will be taken against any objection” (see the image of the memo below)

Background about the company

 The "Aden Ports Development Company" (APDC), initially under the name "Dubai and Aden Ports Development Company Limited", appeared as a joint company between the Yemeni government and DP World, upon signing the contract between the two parties in November 2008, with the aim of operating and developing the old port of Aden by 50 percent. For each party.

Following the Yemeni government’s termination of this partnership contract with the Dubai Ports Authority, in September 2012, the “Aden Ports Development Company” was declared in 2013 as a purely Yemeni company, affiliated with the “Gulf of Aden Ports Corporation”, in accordance with Cabinet Resolution No. (2) of 2013.

Al-Zubaidi warns

On June 12, 2024, that is, two days after that last memorandum from the Prime Minister, the Deputy Chairman of the Presidential Leadership Council, Aidaroos Al-Zubaidi, submitted an official memorandum to Bin Mubarak, the introduction of which included an explanatory summary regarding the company’s legal, financial, and administrative status, and its method of operation.

Coming to the financial issue (which the Prime Minister demands to be revealed to the Central Organization for Control and Accounting team), Al-Zubaidi explained that the company’s board of directors “approves the operating budgets and final accounts with the appointment of an international chartered accountant authorized by the competent authorities in the capital, Aden.”

Because Al-Zubaidi realizes that this clarification does not prevent the oversight of the central apparatus, he moved to address the Prime Minister regarding what he believes poses a threat to the state’s investments, revealing that “there is a ministerial committee formed by Cabinet Resolution No. (49) of 2023, to negotiate with the Abu Dhabi Ports Group.” And the Aden Ports Corporation for Joint Investment,” adding: “He is about to complete the final agreement.”

Accordingly; According to the Vice Chairman of the Presidential Leadership Council, “In order to preserve the success of the strategic investment partnership with Abu Dhabi Ports Group, it is sufficient to review the accounts approved by the chartered accountant and approved by the company’s Board of Directors.”

To stop it at its limit, and not to return to such an issue again; Al-Zubaidi concluded his letter by issuing a stern warning to the Prime Minister: “This directive is final.”

question marks

 To baptize these directives, Al-Zubaidi not only signed the memorandum in his official capacity, as Vice President of the Leadership Council, but also used his political capacity as President of the Southern Transitional Council, which is supported by the UAE. What raises legal and administrative question marks regarding the confusion between official work and political orientation in the highest council of power in the country..?!

While this memorandum comes to reinforce doubts raised about the fate of revenues collected in areas controlled by the Southern Transitional Council, it also comes to raise more doubts and questions about the nature of the environment in which the government operates in the temporary capital, Aden. Including her freedom and ability to make her own decisions away from the desires and pressures of the Transitional Council.

In this context, there is also talk of forming a ministerial committee to negotiate with the “Abu Dhabi Ports Group” for a partnership to manage Aden’s ports, especially in such exceptional and abnormal circumstances. While the previous experience with DP World, which is the most efficient and well-known, was considered unfair. Although it was concluded under normal circumstances at that time, it ended in a miserable failure, and was canceled after less than four years..!!