Palestinian workers at the Erez crossing
Photo: AP
Palestinians seek Israeli investments
Palestinian financial official invites Israelis to invest, seek joint ventures in PA. If the Palestinian economy prospers, Israel will be safe, he claims
The Palestinian Authority Council and private Palestinian businessmen are inviting Israelis to start investing in the PA and adjacent industrial zones immediately, Director General of the Palestinian National Economy Ministry Saeb Bamya told Israel Manufacturers Association's magazine in an interview published Tuesday.
According to Bamya, financial collaborations can take place mainly in the fields of construction, energy, shoe textile, furniture, stone and marble, and tourism. Bamya added that the information technology industry is another developing sector in the PA, which Israelis may want to invest in.
In order to deal with the serious problem of unemployment, the authority needs Israel to provide jobs for Palestinians for at least the next seven years, until the Palestinian economy stabilizes and becomes independent, Bamya claimed.
The financial official stated he found Israel's decision to ban employment of Palestinians after 2008 to be wrong, adding he believes many prominent politicians in the country are rethinking the decision already.
If Palestinians succeed in rehabilitating the local economy and address the problems of poverty and unemployment, this will directly contribute to Israel's safety, Bamya said. However, if the rehabilitation process fails, extremist groups will gain in strength.
Bamya complained of Israel's refusal to allow the PA to operate the Dahaniya airport in Gaza, which he claims is significant for the recovery of the Palestinian economy. The authority plans to erect a cargo terminal in Dahaniya, which will constitute an important part of the future economy's prosperity, Bamya concluded.
