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Palestinian PM inaugurate first phase of industrial park

Xinhua, September 7, 2015 Adjust font size:

Palestinian Premier Rami Hamdallah inaugurated the first phase of the industrial park in the West Bank city of Bethlehem on Monday.

Hamdallah said 16 investors were contracted to invest in the industrial park, which is considered an important step to spur investment opportunities and support the local production and operation.

He added that the industrial park would help Palestine's economy and give businessmen more trust to invest and work in Palestine.

Hamdallah said that the first phase of establishing the industrial park supports the Palestinian market with more than 500 job opportunities, and is expected to create 2,000 direct and in-direct job opportunities upon completion.

The Palestinian economy suffers high unemployment rates and a poor growth. A report by the International Labor Organization (ILO) said that unemployment in Palestine surged to 27 percent in 2014, in comparison to 23.4 percent the year before.

Palestinians say the continued Israeli restrictions on the movement of people and goods, the settlement policy of swallowing lands, blocking development in area C of the West Bank and the blockade of the Gaza Strip and preventing reconstruction weakens the Palestinian economy. Endit