Palestinian Businesses, Diaspora Sign Agreement to Promote Economic Growth, Trade

March 16, 2015

The Palestinian Business Forum-Britain recently signed a Memorandum of Understanding with the Palestinian Market Development Programme (PMDP) to encourage the participation of the diaspora in the growth of Palestine’s economy.

In the coming months:

The Palestinian Business Forum-Britain will invite select members to attend workshops organized in partnership with PMDP;
PMDP will provide presentations about economic development and facilitate discussion with forum members about investment opportunities and obstacles in Palestine;
The forum will disseminate information about the Palestinian economy to its members along with information about trade and investment opportunities;
PMDP, which is headquartered in Ramallah, will follow up with interested local businesspersons, facilitate linkages with trade and investment organizations, and provide technical assistance through matching grants.

PMDP is an initiative of the U.K. Department for International Development and European Union, in cooperation with the Palestinian Ministry of Economics, implemented by DAI, to improve market systems and the competitiveness of the Palestinian private sector in areas such as manufacturing, agribusiness, stone and marble, ICT, services, tourism, pharmaceuticals, media, and handicrafts.

The Palestinian Business Forum-Britain is an independent nonprofit organization with more than 1,500 members worldwide. The forum aims to encourage the establishment of strategic projects that promote Palestinian economic growth and encourage the export of Palestinian products.

Following Private Sector Advocacy, Kenya Repeals Law That Deterred Foreign Investment

A 2015 Kenya law that required 30-percent Kenyan ownership of businesses registered by foreign firms was recently repealed after successful advocacy by the business community with direct support from an economic growth program led by DAI.