Undersecretary in the UAE Ministry of Economy (MoE) Mohammed Ahmed bin Abdulaziz Alshihhi is leading the UAE delegation at the Palestine Investment Conference.
Three three-day event opened today (May 21) in Bethlehem, Palestine.
The UAE delegation will comprise various representatives from the public and private sectors, including Abdullah Sultan Abdullah, secretary general of the Federation of UAE Chambers of Commerce and Industry; Hussein Mohammed Al Mahmoudi, director general, Sharjah Chamber of Commerce and Industry; Abdullah Saeed Al Thani, member, Dubai Chamber of Commerce and Industry; Otaiba bin Saeed Al Otaiba, board member, Abu Dhabi Chamber of Commerce and Industry; and Ahmed Mohammed Al-Awadi, executive director for mergers and acquisitions, Etisalat.
Alshihhi emphasised the active role of the UAE in the landmark conference at both government and private sector levels, underscoring the country’s commitment to promoting and supporting continued investments, economic cooperation, and trade between the UAE and Palestine. He added that the UAE will seek better ways to establish joint ventures that will mutually benefit both countries.
Alshihhi pointed out that the Palestine Investment Conference is of major significance, since it will enjoy broad international participation and the support of prominent figures from government and private sectors; he further explained that the conference will influence the creation of a favorable investment climate, rapid economic growth, and sustainable development for the host country.
He noted that the event will introduce various specific Palestinian investment opportunities to the Middle Eastern region and energize Palestine as an important and competitive Arab economy.
The Undersecretary also drew attention to the various promising sectors in Palestine, emphasising the importance of fully exploring their investment opportunities, their potential for regional and international investors; and their effects on the domestic economic situation amidst a challenging political environment.
He recounted the UAE’s history of financial assistance to Palestine, which reached around $808 million from 1994 to 2006; saying that the UAE leadership has never hesitated to extend moral and financial support to the Palestinian people in their quest for sustainable development.
“The Palestine Investment Conference will encourage the removal of trade barriers that prevent productive private sector cooperation within and outside of Palestine; it will play a major role in increasing Palestinian participation in regional and international joint investments,” said Alshihhi.
The value of investments in the occupied Arab territories is estimated at $1.5 billion; Palestine currently supports approximately 38,000 businessmen, who represent the entire national private sector.
Palestine’s mid-range housing sector needs to grow by around 40,000 units annually; the country has thus recently signed agreements with international organizations to develop 30,000 homes for low- and middle-income families, costing up to $5.2 billion. – TradeArabia News Service