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The
Project
Event
Management
Tourism
Development
Private
Sector Development
Infrastructure
Cultural
Heritage
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Private
Sector Development
The
birthplace of Christ has been a destination for pilgrims and
tourists for almost 2000 years. In order to assist Bethlehem in
hosting the Millennium celebrations, Palestinian and foreign
investors helped to develop the economic infrastructure of the
District. An estimated US$100 million dollars have been invested in
ongoing private sector projects while more partnerships and further
private investment are still being sought.
A total number of 29 projects to provide accommodation, food and
beverage, leisure and entertainment, as well as traditional
industries, have been identified and their implementation requires
some $US 85 million of investment.
INVESTMENT
PROMOTION LAW
- Income Tax Holidays
for 8-16 years based on capital investment (US$100,000 - 5
million+); - Hotel / Tourism Projects will be exempt from custom
duties;
- No discrimination between old and new projects, or local and
expatriate investors;
- Prohibits expropriation and/or nationalization of investments. (The
PNA passed this law in order to promote investment in Palestine)
The Immediate Objectives Of The
Bethlehem 2000 They Relate To Private Sector Development Are:
* Increase of the potential
of small businesses;
* Improvement of services available and introduction of new
services;
* Creation of new accommodation facilities;
* Rehabilitation and upgrading of existing accommodations;
* Providing restaurant and recreational facilities which cater to a
wide range of * Producing and exporting high quality handicrafts;
* Contributing positively to the economic cycle, by providing jobs,
stimulating expanding the economy.
Two Private Sector
Projects Under Implementation:
1) At Solomon's Pools, a private development consortium, Solomon
Pools Resort Ltd., is
transforming a restored fortress to house an amphitheatre, building
an arts and crafts village on the surrounding grounds, as well as
restaurants specializing in Arab cuisine, a conference center,
exhibition halls and a four star 250-room hotel.
2) Jacir Palace (Inter-Continental Hotel) adding a five star 250
room hotel to Bethlehem.
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