Masri: “The Development of the Palestinian Economy is Our Priority”
Rawabi, 23/05/2023
During today’s meeting in Rawabi, PADICO’s Board of Directors re-elects Bashar Masri as its Chairman for another term. During Masri’s leadership in his first term, PADICO accomplished significant and unprecedented successes and achievements, despite the political and economic challenges, which included the consequences of the coronavirus pandemic.
The company also witnessed fundamental changes in the operations of its subsidiaries and affiliates which resulted in an increase in efficiency and further developed their businesses where PADICO maintained its leading position in the market. This contributed to an increase in profits of the subsidiary companies and the growth of PADICO’s market value, which PADICO being one of the most traded shares on the Palestine Exchange.
Masri thanked the Board Members for their trust, and said, “The development of the Palestinian economy is our priority, and we will continue to launch more projects in varied economic sectors, specifically those that are currently underserved and face investor reluctance, in order to create new jobs for our people in those sectors.”
Masri noted that PADICO’s Board of Directors is comprised of a diverse and cohesive group of wise and experienced founding members of the company in addition to new, energetic, and innovative members; and further expressed his pleasure to work with this exceptional team and asserted his confidence in the Board’s ability in achieving progressive and intensive economic projects that will benefit the Palestinian economy. In addition, Masri declared that PADICO will continue its work to create an environment necessary for its subsidiaries and affiliates to maintain leadership in their sectors and achieve excellence in their offerings.
“The new term of the Board will continue what the previous board started, through which the company succeeded in adjusting and rationalizing expenditures and increasing the efficiency of operations and production, as well as strengthening the company’s financial position and achieving rewarding returns for shareholders who believe in PADICO and the value of investing in it,” said Masri.
PADICO is a public shareholding company investing in many economic sectors, such as telecommunications and ICT, real estate, financial services, industry and agriculture sector, tourism, infrastructure and energy, and industrial zones.
