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PALESTINIAN AUTHORITY |
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The investment promotion agency: PIPA |
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In 1998, pursuant to the Promulgation of the Investment Promotion Law, the Palestinian Investment Promotion Agency was established as an autonomous agency of the Palestinian National Authority. The law not only established PIPA, but it provided the bylaws by which PIPA would operate. A One-Stop-Shop was established to assist all investors from licensing their projects, getting approvals, to acquiring incentives and income tax exemptions. |
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PIPA’s goals and mandate |
PIPA’s mandate goals and responsibilities are to:
1. Increase the flow of foreign and domestic investments in line with national priorities;
2. Provide employment opportunities pursuant to increased investment and developmental activities;
3. Expand Palestinian exports and increase flow of foreign exchange;
4. Ensure the transfer of modern technology in all priority sectors;
5. Determine deficiencies in Palestinian Investment Climate and seek, through its Board of Directors, to influence Government decisions promoting friendly policies. |
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One-Stop-Shop |
Once the decision to invest in Palestine has been made, PIPA is the one place investors should go to for everything they need to begin working. Its One-Stop-Shop, launched in 2005, provides all the necessary forms, and is committed to deal with all this paperwork in a timely manner (less than a month, and less than 10 days will be the next step). |
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PIPA & After-care investor support |
Once a project has received all the official assistance available, be it’s incentives, or permits and income tax exemptions, PIPA’s usefulness does not come to an end. After-care may not be as important a function for more economically stable regions og the world, but here PIPA views this function as key. PIPA continues to provide assistance to investors in any matter where it can be of service. One significant area where PIPA can help is in proposing changes to laws and regulations which may be restricting investment thanks to the feedback it receives from investors on the ground. |
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The institutional aspects |
PIPA is headed by a thirteen-member Board of Directors. Five of these members are drawn directly from the private sector, while the rest is from the public sector. The Board of Directors is chaired by the Minister of National Economy, with a representative of the Ministry of Finance serving as deputy chairman. This detail, in combination with the addition of direct private sector input, allows both for changes to be made to the investment laws itself, and the monitoring of all Palestinian laws and regulations which may be imposing restrictions or limitations on investments.
The additional benefit of having members of the private sector serving on the Board is precisely to keep in constant touch with entrepreneurs’ concerns and maintain a closer ear to the ground. The public sector board members provide a valuable link to the internal developments and new initiatives within the Ministries of Tourism, Industry, Housing, Planning and International Cooperation, Monetary Authority and Agriculture. Close cooperation also ensures a unified promotional and strategic front, while keeping and eye on developments within these sectors. |
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Contact |
Palestinian Investment Promotion Agency
Ramallah, P.O Box 1984
Palestinian Authority
Tel: +970 2 2988791/2
Fax: +970 2 2988793
E-mail: info@pipa.gov.ps
Website: www.pipa.gov.ps |
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