Palestine wants to encourage entrepreneurship and new technologies 1
#Entrepreneurship #PALESTINE
Denys Bédarride
Wednesday 23 December 2020 Last update on Wednesday, December 23, 2020 At 4:41 PM

The Second International Conference on Entrepreneurship and the New Technology Sector in Palestine (ICEP) was held on December 14, 2020 in Bethlehem with the aim of fostering entrepreneurship.

It was introduced by Prime Minister Shtayyeh and organized with the support of the Bank of Palestine, the Consolidated Contractors Company, the PalTel Group and the World Bank.

The event was divided into an exchange on youth and entrepreneurship in Palestine on the one hand and on the other hand a presentation of projects with the ambition to refute the received ideas on entrepreneurship in the Territories, mobilize donors as well as developing and attracting venture capital in Palestine.

Several important players are to be noted among the participants: participation of important players (Microsoft, Amazon, companies from Silicon Valley, Hubert Burda Media, McKinsey, Davos Forum, World Bank, entrepreneurs from the diaspora, etc.).

International aid: International support for the Palestinian Authority continues to erode. The share of international aid in the general Palestinian budget declined by 19.5% in the first 10 months of this year. Contributions from Arab countries decreased by 83% over the same period; Saudi Arabian support 77% and Qatari aid 87%.

The amount of foreign aid has been reduced by three in seven years, from 1.38 billion USD in 2013 to probably 470 million USD in 2020. Impact of the COVID-19 crisis:

The Palestine Monetary Authority’s Extended Business Cycle Index, which measures the economic performance of the seven main sectors each month, fell from -14.5 in November 2019 (-10.4 in the West Bank and -28.9 in Gaza) to – 29 in November 2020 (- 21.4 in the West Bank and – 48.6). Source French Embassy in Lebanon