Business & Economy
The Palestinian market-based economy represents a unique business opportunity for local and foreign investors to establish successful projects with substantial returns. The Palestinian economy has a diversified structure in which different vital economic sectors contribute to the Gross Domestic Product (GDP). These economic sectors include: services, IT and telecommunications, tourism, agriculture and fishing, energy, finance, infrastructure, manufacturing, mining, real estate development, and finance.
The office of the IMF Resident Representative for the West Bank and Gaza was established in July 1995, to help fulfill the IMF’s mandate to assist the Palestinian Authority as specified under the Oslo Accords. While the IMF cannot provide financial support to WBG (because it is not a member state), it has been providing policy advice in the macroeconomic, fiscal, and financial areas since 1994. The IMF has also been providing technical assistance to support capacity building in the areas of tax administration, public expenditure management, banking supervision and regulation, and macroeconomic statistics. More recently, IMF staff worked with the Palestinian Authority to develop the Palestinian Reform and Development Plan presented at the Paris Donors’ Conference in 2007 and its successor Palestinian National Development Plan, published in 2011.
A limited public shareholding company traded on the Palestine Exchange (PEX) with a paid-in capital of USD 250 million. Since its inception in 1993, its mission has been to develop and strengthen the Palestinian economy by investing in vital economic sectors. This mission was initiated by several Palestinian and Arab investors who believed that the Palestinian market represents a unique business opportunity that offers substantial returns.
The Palestine Liberation Organization (PLO) established PECDAR as an independent institution in 1993 in full cooperation and coordination with the donor community to Palestine in support of the peace process. The mandate covers a wide range of responsibilities including aid coordination, economic policy, project management, coordination with NGO’S and UN specialized agencies, technical assistance and training as well as IT. Donor’s funds are disbursed effectively and efficiently and in the most transparent manner. Funds are project oriented in accordance with national priorities, where project preparation and monitoring is carried out by PECDAR, while project identification is carried out by the relevant ministries and municipalities.
The Palestinian Investment Promotion Agency (PIPA) was established in January 2000 as an autonomous institution. With a ruling Board of Directors composed of members from both the public and the private sector, PIPA takes a proactive role in promoting Palestine’s advantages to investors while keeping a close eye on legal developments and their impact on the private sector. PIPA is happy to provide investors with both a comprehensive one-stop-shop and Aftercare services.