São Paulo – In spite of all obstacles posed by the Israeli occupation, the Palestinian National Authority (PNA) estimates that the economy of the occupied territories should grow by 7% this year. The information was supplied by the secretary general of the Arab Brazilian Chamber of Commerce, Michel Alaby, currently in Bethlehem, in the West Bank, attending the Palestinian Investment Conference.
The opening address at the meeting, on this Wednesday (2nd), was made by the president of the PNA, Mahmoud Abbas, and attended by approximately 1,500 people. According to Alaby, delegations from 26 countries were present. The president’s address was marked by criticism towards Israel, because of the attack on a fleet of ships attempting to carry humanitarian aid to the Gaza Strip, last Monday.
After Abbas, the director general of the Palestinian Investment Promotion Agency, Jafa’ar Hudeib, stated that the local economy should be driven mainly by civil construction, tourism, and the food industry. The conference focuses on small and medium enterprises, which, according to Hudeib, account for over 95% of entrepreneurial activity in Palestine.
Alaby added that 123 infrastructure and civil construction projects are being presented at the event, including water treatment, sanitation, hospitals, schools, solar energy plants, and industrial free zones in the cities of Bethlehem and Nablus. The works scheduled for the West Bank and Gaza total US$ 500 million in investment, according to him. Gaza, however, is being held under siege by Israeli forces, despite the international pressure for the occupation to end.
The projects also include building of housing units and hotels in Jerusalem, Gaza, Bethlehem, Nablus, Hebron and Jenin, and subsistence agriculture initiatives in Jerusalem, Qalquilia, Tibbas, Salfit, and Tulkaren. Jerusalem is now under Israeli domain, but the Palestinians are claiming the Eastern portion of the city as the capital of its future state.
The Arab Brazilian Chamber’s secretary general also claimed that the PNA’s public budget for this year is of US$ 3.8 billion, whereas the public deficit should be US$ 1.2 billion, equivalent to 16% of the Gross Domestic Product (GDP).
The minister of Economy, Hasan Abu Lideh, stated that the PNA grants fiscal incentives to investors, such as exemption from income tax and from taxes on machinery and equipment purchases.
On the sidelines of the conference, a trade fair of Palestinian products is taking place, featuring 120 exhibitors in the following industries: glass, construction, handicraft, soap, office stationery, household utensils, textiles and clothing, software, furniture, bathroom metals, copper pipes, marble and granite, olive oil, chemicals, among others.
Participants included the Foreign Trade minister of the United Arab Emirates, Lubna Al Qasimi, heading a delegation from Abu Dhabi and Dubai, the Jordanian minister of Telecommunications, Marwan Jumah, the former prime minister of the United Kingdom, Tony Blair, the minister of Industry of Sri Lanka, Komara Welkama, the United States envoy to the Middle East, George Mitchel, the deputy secretary of the United States Treasury, Neal Wolin, among others. The conference will continue on Thursday.
*Translated by Gabriel Pomerancblum
