BETHLEHEM, May 23, 2008, (WAFA)- The United Arab Emirates (UAE) has expressed on Friday its support for the development of the Palestinian economy at the Palestine Investment Conference.

Undersecretary of the UAE Ministry of economy Mohammed Abdulaziz Alshihhi said that the UAE's presence in the three-day gathering will provide it with information on investment opportunities in Palestine that will be passed to the private sector in the UAE so as to explore business opportunities and establish joint ventures with Palestinian investors.

Alshihhi added that the Ministry would spur UAE businessmen to study investment potentials in Palestine so as to contribute to efforts aimed at improving the economic situation there.

'Although Palestine is still facing diverse political and economic challenges on its way to make the aspired development but its land harbours many feasible and profitable ventures waiting for investors to grab them,' he added.