BETHLEHEM, March 29, 2010 (WAFA)- Mr. Hassan Abu Libdeh, Minister of National Economy of the Palestinian Authority and Chairman of the board of PIEFZA (Palestinian Industrial Estate and Free Zone Authority) and Mr. Samir Hazboun, Chairman of the board of the French-Palestinian private company BMIP (Bethlehem Multi Purpose Industrial Park) signed on Mondaya concession agreement specifying the terms of this public-private partnership to develop the Bethlehem Industrial Park.

The signing of this concession agreement marks a significant milestone in the implementation of the project of the Industrial Park in Bethlehem, decided by French President Nicolas Sarkozy and Palestinian President Mahmoud Abbas in June 2008, which aims to create concrete foundations for sustainable growth of the Palestinian economy.

France has given, through the French Development Agency (AFD), a grant of 10 million Euros for the financing of the infrastructures to enhance the attractiveness of the Park.

All detailed studies have been conducted concerning the off-site infrastructure and the connection works to the water and electricity network should start very soon. Further studies are under way for the access road and sanitation.

The construction of an office building by BMIP recently started and the first stone ceremony is scheduled on Thursday, April 8 in Bethlehem, in the presence of the French Minister of Industry Christian Estrosi, who will be accompanied by a delegation of French companies that show an interest in investing in the Palestinian Territory.