JERUSALEM, June 12, 2018 (WAFA) - The Japanese Government has provided over €622,000 to support two companies operating in the Jericho Agro Industrial Park (JAIP): Al Masra, and Dates Kingdom, a program implemented by the European Union (EU), a press release said on Tuesday.
These companies are the seventh and eighth beneficiaries under the Palestinian Authority‘s PRIDE (Partnership for Regional Investment, Development & Employment) Program of Incentives to JAIP. The Japanese contribution is being channeled through the PEGASE mechanism.
"As one of the oldest documented cities in the world, Jericho has always been famous for its production of agricultural products. The Jericho Agro Industrial Park is on the best way to take this long-standing heritage to the future," said the EU Representative Ralph Tarraf. "The EU is proud with its close cooperation with Japan to advance this important project. This industrial park is not only taking a lead in the exports of quality products from Palestine, it is also the first one to employ high-level technologies for environmental protection. This makes it hub for innovation and a prime model for sustainable development in Palestine," he added.
"JAIP is a flagship project of Japan‘s ‘Corridor for Peace and Prosperity’ initiative launched in 2006. Japan has been extending financial, technical, and human resource assistance to enrich the already fertile soil of the City of Jericho, which amounts to approximately $100 million including the building of the relevant infrastructure in the city. Given the strategic importance of Jericho in the region, this project could serve to not only strengthen the Palestinian economy but stabilize the entire region." said the Ambassador for the Palestinian Affairs Takeshi Okubo.
In order to attract investment in JAIP, the Palestinian Authority (PA) is offering a range of incentives, including tax breaks, to its tenants. In this context, it has established a program called PRIDE to provide financial assistance to JAIP tenants to help them start their operations in the park. The EU has set up a PEGASE program aimed at channeling funds to the above mentioned PA PRIDE program (EU support: EUR 2 million, Government of Japan support: EUR 3.2 million). The program provides financial assistance to eligible JAIP tenants to purchase equipment, machinery, tools and building materials for their operations in the park.
Al Masra is producing soft fruits – flavored beverages with production capacity of around 16,000 units per day. The factory will produce flavored beverages in two sizes (400 ml and 1,500 ml).
Dates Kingdom is producing Dates‘ Powder bags which will be the first of its kind in Palestine.
M.K.
