Whatever the state of ‘peace talks’ to end the Israeli occupation and create an independent Palestinian state, the coming months and years are likely to see a renewed focus on the private sector economy in the West Bank, Gaza and East Jerusalem. Investment from Palestinians in the diaspora, private Arab funds and foreign corporations, as well as from important ‘donors,’ such as the World Bank, the US Overseas Private Investment Corporation (OPIC), the UK, the European Union, Japan and Canada – is increasing, reflecting the sector’s remarkable resilience in the past few years, and its huge potential in the medium term. Expanding and developing it further is now also seen as crucial to stemming unemployment, particularly among the youth in Palestine, and to making the economy less dependent on foreign aid.
At last , there is good news coming out of Palestine and, while there is a still a long way to go, positive signs that real change is taking place. Confidence and investment flows are increasing. the economy has recorded impressive GDP growth, reaching an estimated 7 percent in 2012, rising to 10 percent in 2013. This month The MiddleEast Magazine has put together a special report as we look at how and where Palestine is getting the cooperation it needs and so richly deserves.
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