Ramallah - March 29, 2022, the Investment Promotion and Industrial Estates Agency - IPIEA launched the Palestinian Industrial Estates Incentives Programme in the northern governorates, during the presence the head of operation section at the office of the European Union Representative to the State of Palestine, Mr. Odoardo Como and Mr. Haitham Wahidi, CEO of IPIEA, and in the presence of a number of investors and representatives of the development companies for Bethlehem Industrial Estates and Jericho Agricultural Industrial Park.
The Industrial Estate Incentive Programme (PIEIP) is a Programme supported by the European Union, to provide incentives to encourage investors to start their investments in the industrial Estates or transfer their investment into industrial estates, and to encourage investments within the industrial Estate to expand or develop their operations and increase production capacity and improve the quality of production, and utilize new technologies, to meet the ultimate goal summarized by the contribution in generation of direct and indirect job opportunities in order to promote comprehensive and sustainable economic development.
Given that the European Union provided a grant of 9 million euros to support the Palestinian government in providing financial incentives for qualified investments looking to reallocate into the industrial Estates or Existing investment within the Industrial Estates, and it’s worth to mention that a 7 million euros granted for qualified investments in southern governorates (Gaza Industrial Estate) and 2 million Euros granted for qualified investments in Northern governorates (Bethlehem Industrial Zone, and Jericho Agro-Business Park).
PIEIP is in line with IPIEA strategies to empower investments within the available and designed industrial estates and free zones in Palestine, given that the industrial estates are a powerful tool to enhance and empower the Palestinian economy and to retain the local investments and attract foreign, Expat and Arab Investments and this in line with the Government of Palestine goals and directions of H.E. prime minister to meet the vision of H.E. Mr. President Mahmoud ABBAS.
For more details about the Programme and submitting application criteria, please visit the Programme link: Industrial Estate Incentive Programme.