Palestinians aim to attract $1.5 billion investment

More than 300 investors, including a Saudi representative and a government minister from the United Arab Emirates, are expected to attend a conference from May 21 to 23 in Bethlehem, Foreign Minister Riad al-Malki told reporters.

Palestinians aim to attract $1.5 billion investment
Palestinian officials are aiming to attract $1.5 billion in investments next month, part of an effort to develop the economy as a step toward building an independent state.

More than 300 investors, including a Saudi representative and a government minister from the United Arab Emirates, are expected to attend a conference from May 21 to 23 in Bethlehem, Foreign Minister Riad al-Malki told reporters.

Al-Malki said the Palestinians are seeking $1.5 billion in private investment to help fund about 105 projects, in addition to an ambitious $200 million plan to develop downtown Ramallah, the seat of Abbas' government.

Al-Malki said more than 1,100 investors have been invited, and more than 300 participants, including officials from the World Bank and European governments, have confirmed.

Representatives from the Hamas-controlled Gaza Strip also are expected, though they will not be members of the Islamic group.

Agencies
Last Mod: 22 Nisan 2008, 15:09
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