Launch of Investment Support Program for Industrial Zones with 9 Million Euros Funded by the European Union

SadaNews: The General Authority for Industrial Cities and Industrial Areas launched the Industrial Cities Incentives Program today, Thursday at the Prime Minister's office in Ramallah, in the presence of Prime Minister Mohammad Mustafa.

The program is launched in partnership with the European Union, which is contributing approximately 9 million euros in funding, as part of supporting the Palestinian government's efforts to stimulate investment within industrial cities and areas across various governorates of the homeland, and to enhance sustainable industrial development.

The program aims to provide financial and non-financial incentives to companies wishing to relocate to or expand within industrial areas, contributing to increased productivity, improved product quality, and the creation of new job opportunities, in addition to supporting exports and enhancing the competitiveness of the industrial sector.

In his speech, the Prime Minister emphasized the importance of the program, describing it as a strategic step to enhance the role of the private sector in leading industrial and economic growth, support the government's direction towards sustainable development, and strengthen the resilience of national industry in the face of challenges, in addition to contributing to providing new job opportunities for our people.

Mustafa added: "We believe that economic resilience is a fundamental pillar in our national struggle; every facility that continues to produce and every worker who perseveres despite the circumstances is a partner in protecting national dignity and enhancing economic independence. Therefore, the government continues its efforts to establish a supportive environment for production, through developing legislative frameworks, protecting national products, and enhancing quality and competitiveness standards."

For his part, Minister of Industry Arafat Asfour, in his opening speech, stressed the pivotal role of industrial cities as sovereign incubators for the economy, stating: "Industrial cities are not just geographical spaces; they represent a cornerstone in our strategic plan to enhance national production and detach from economic dependency."

In turn, the Deputy Representative of the European Union, James Ritzou, affirmed the EU's commitment to supporting the Palestinian government, indicating that the program reflects the depth of the ongoing partnership in supporting industrial development, empowering the private sector, and creating an attractive and sustainable investment environment.

During the launch ceremony, the CEO of the General Authority for Industrial Cities and Industrial Areas, Eng. Khaled Al-‘Uma, presented a detailed overview of the program, outlining its objectives, components, implementation mechanisms, and its expected role in developing industrial areas in Palestine, enhancing their capacity to attract quality investments.

A success story of one of the beneficiary companies in the program's second round was also showcased, namely "Alison" Pharmaceutical Industries, which invests in the Jericho Agro-Industrial City, where its Chairman, Engineer Mohammad Hamdan, praised the support provided by the program for their investments in the industrial city.

The program is expected to enhance the authority’s ability to efficiently develop and manage industrial areas, support industrial companies in adopting modern technologies, and expand their production activities, in line with national development priorities.