Palestinians aim at luring $5 billion in private sector investment to rebuild their devastated economy this year, mainly from the Palestinian diaspora and investors from the booming oil Gulf markets.
According to Reuters, Palestinian Economy Minister Mazen Sinokrot met investors from across the world’s biggest oil exporting region in Abu Dhabi. Sinokrot said Palestinians would present investors with proposals for projects worth $5 billion for 2006 alone, about the value of the economy of Palestinian areas, according to his ministry’s data.
Meanwhile, it is reported that The UAE will launch an investment company with the Palestinian Authority to help the capital flows that are key to creating a viable Palestinian economy, Sinokrot said.
