Padico Holding


An Economic Delegation from the West Bank Visits Gaza’s Industrial Estate (GIE)

Gaza, 18/9/2023

A West Bank delegation of 50 business people and influential figures visited PADICO Holding’s Gaza Industrial Estate (GIE).

The delegation toured the GIE, exploring its facilities, factories, and the solar project providing clean energy. They also learned about PADICO’s vision for GIE’s development near Gaza’s Eastern borders.

 Bashar Masri, PADICO’s Chairman, welcomed the delegation, emphasizing the importance of these visits to shed light on investment challenges in Gaza and inspire economic growth.

He said, “We are pleased with this significant delegation that includes diverse and influential economic sectors, as these visits represent important opportunities that align with our vision at PADICO to stimulate the local economy in the Gaza Strip by intensifying investment efforts. Such visits bring attention to various economic sectors and how to address the challenges they face.”

Samir Hulileh, Chairman of the Palestine Stock Exchange, stated, “This visit is very significant to overcome the obstacles imposed by the occupation between the two parts of our nation, and with this strong determination, we will collectively contribute to creating a developmental renaissance in all aspects of life inthe Gaza Strip.” He also emphasized the importance of the GIE as a leading example to attract more entrepreneurs and large investment companies to initiate similar projects, as they represent an enhancement of the economy and consequently provide numerous sustainable employment opportunities.

Tareq Al-Natsheh, owner of Al-Huda Petroleum Groupsaid, “This significant economic facility represents Palestinian success at its finest. It holds immense importance in the journey of a local economy striving for advancement, and its existence signifies that this economy is still capable of production and development.”

Businessman Bassam Walweel said, “Such visits enable us to closely observe the local economy in the Gaza Strip directly to understand the market’s needs, ultimately leading to the crystallization of new prospects that achieve vital advancements for the national economy. We all hope to contribute together to propel Gaza forward across various economic sectors.” He also appreciated PADICO’s efforts and its pursuit of economic development in different parts of Palestine through its vital projects.

The Gaza Industrial Estate (GIE) was established in 1997 as the first and largest industrial city in Palestine. It serves as the nation’s gateway for exporting Palestinian products from the Gaza Strip to neighboring countries and is a fundamental support for the Palestinian economy. The total area of the Gaza Industrial City is 460,000 square meters, equipped with comprehensive and advanced infrastructure to meet the industrial needs of various types.

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