Palestinian Minister for National Economy discusses prospects of development in Palestine Delegation urges participants to support "Palestinian Development and Investment Conference" to be held in April
Dubai, United Arab Emirates, January 26th 2006: A Palestinian delegation headed by HE Mazen Sinikrot, the Palestinian Minister for National Economy, is participating in the World Economic Forum Annual Meeting 2006 held in Davos, Switzerland.
As part of the Palestinian delegation's efforts to call upon participants for supporting the Palestinian Development and Investment Conference" (PDIC), the Minister will meet top economic personalities and political leaders, to discuss their support for the PDIC set to take place in the cities of Gaza and Bethlehem on April 8 and 9, 2006.
The Palestinian delegation includes Mr. Hamad Mustafa, the Palestinian President's Advisor for Economic Affairs, HE Ghassan Al Khateeb, the Palestinian Minister for Planning, Mr. Munib Masri Chairman-Palestine for Investment and Development Ltd. (Padico), Dr. Farouk Zu'ayter CEO-Padico, and Mr. Samer Khouri CEO of Consolidated Contractors Company (CCC).
Commenting on the delegation's participation in Davos, Mr. Sinokrot said: "The Annual Meeting in Davos is one of the most significant events worldwide. Our participation this year follows the Palestinian legislative elections. We will discuss possible prospects of financing various economic projects and programmes in Palestine, as well as plans to re-build and support the Palestinian economy and the private sector."
"The delegation will call upon businessmen and political leaders to participate in the upcoming PDIC which is launched by the Palestinian government in collaboration with the Palestinian private sector", added Mr. Sinikrot.
He noted: "We shall stress the fact that the conference is supported by the quarterly committee which includes representatives from the United States, World Bank, World Economic Forum, Arab League, Private sector in the Arab World, as well as Mr. James Welfenson, representative of the quarterly committee."
Mr. Sinokrot and the Palestinian delegation have also taken part in a discussion session with top economic personalities. The session featured discussions on investment prospects in Palestine and the pull out of Israel from the Gaza Strip. Mr. Sinokrot and the delegation responded to several inquiries on the importance of building a healthy and sustainable economy in Gaza. Questions also highlighted the change of the Israeli and Palestinian policies and the impacts on the peace process. Participants at the session called upon both parties to implement the road map as a framework for resolving the pending disputes between both parties."
Minister of Planning in Palestine is expected to meet Mr. Amro Moosa, General Secretary of the Arab League, as well as US Congressmen and other American officials.
Palestine has been participating in Davos on regular basis during the previous years. The world event is considered to be one of the most high profile meetings that gather leaders and prominent personalities in different fields across the world. The event tackles all these global issues to reach a unified vision for solving the economic problems of countries across the world.
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About Palestinian Development and Investment Conference
The "Palestinian Development and Investment Conference" (PDIC) to be held next April in the cities of Gaza and Bethlehem, will be a milestone for investment in Palestine. Projects representing approximately $US 5 billion are expected to be presented by the Palestinian Private Sector during the upcoming event.
The "Palestinian Development and Investment Conference" (PDIC) will include three unique initiatives which will be initiated during the PDIC. The first initiative is to establish a $US 250 million Investment Security Fund for 2006 as insurance against any possible political action. The fund will be established by a number of entities including OPEC, World Bank, Islamic Investment Bank, German Investment Bank, European Investment Bank, and Palestinian Investment Fund.
The second initiative is related to privatizing several industries such as cement manufacturing, the petroleum industry, ports, airports, and checkpoints management in order to follow the directions of the Government. The third initiative includes the offering of Public and Waqif land mortgages with exceptional offers for the sale, rent, or auction of projects in the housing, tourism and agriculture, and industrial sectors.
The Main Sponsors for the upcoming events include; Padico, Consolidated Contractors Company (CCC), Arab Bank, Palestinian Investment Fund, Arab Palestinian Investment Company (APIC), Arab Islamic Bank (AIB), and PalTel Group.
For further information please contact:
Rana Ghazi Demloge
Mahmoud Abdulla
Asdaa Public Relations
Phone number: 04-3344550
Fax: 3344556
E-mail: info@asdaa.com
© Press Release 2006
