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The International Chamber of Commerce (ICC) in Qatar and Palestine Organized a Conference in Doha to Promote Investing in Palestine

2012-03-28

Within the annual conference that was organized by the Banking Commission of the International Chamber of Commerce (ICC) in the Qatari Capital (Doha), the ICC in Qatar and Palestine held a small conference sponsored by Bank of Palestine BOP under the title (Invest in Palestine) and with the presence of the chairman of the ICC in Qatar, who praised the cooperation between the economic institutions in Palestine and Qatar to build new projects that enhance the economy. The conference aims to focus and promote investment opportunities in Palestine and change the transferred outlook towards Palestine, in addition to promoting the investment in Palestine in general and in the Palestinian public shareholding companies and the various established and planned projects in specific.

 Dr. Jihad Al-Wazir; the governor of the Palestinian Monetary Authority talked about the latest developments regarding the Palestinian banking system and the growth that was achieved during the past few years. He predicted that the criteria of (Basel 2) will be fully applied in Palestine mid 2013.

Mr. Hashem Al-Shawa, the chairman and general manager of Bank of Palestine BOP presented an overview about the favorable investment environment and the banking services’ sector. He also talked about the success of BOP since its establishment in 1960, where it achieved good financial results over the years, showing its expansion and sustained levels of growth. BOP has gained international awards over the years, while recently has been titled as (The Best Bank in Palestine).

 From his side, The CEO of Palestine Stock Exchange PEX, Mr. Ahmad Aweidah, presented a summary about the PEX regarding its stages of development and growth, the conditions that it was established in, the factors surrounding its work in addition to providing advanced services to its investors within a developed and modern automated environment that is ruled by good governance and transparency disclosure.

Mr. Jamal Haddad , the advisor of the CEO of Palestine Investment Fund PIF, presented that successful cooperation projects for many sectors that is organized by the PIF. Including the telecommunications, tourism and real estate development projects, such as the housing projects in Palestine : Al Jinan Housing Project in Jinin  and Al-Rihan Housing Project in Ramallah. He explained the nature of cooperation between the PIF and QTEL to establish ‘’WATANIYA Mobile’’. 

 Within the conference’s events, Mr Micheal Hanckok from QTEL Company presented an overview of QTEL’s positive experience in investing in Palestine. QTEL has invested $300 million in ‘’WATANIYA Mobile’’, believing in the great investment opportunities in Palestine despite the difficult political and economic conditions.

A documentary film regarding the establishment of ‘’Rawabi’’ , the first Palestinian planned city that involves a public-private partnership between the Bayti Real Estate Investment Company, jointly owned by Qatari Diar Real Estate Investment Company (the Qatar Investment Authority"s property investment fund) and Massar International and the Palestinian National Authority, was presented .

To his side, Mr. Sideeq Rashid from ‘’Abraaj Capital’’, talked about ‘’Riyada Project’’ that is Funded by the PIF, in partnership with BoP, Cisco, EIB, and Abraaj Capita with a paid up capital of $50 million. The fund mainly targets the pioneers of Palestine, and is considered a backbone to the Palestinian exports to the external labor markets, where many Palestinians export a number of talents and pioneers.