Japan provides new contribution to the Jericho Agro Industrial Park incentives programme implemented by the EU
December 20, 2017
The Japanese Government provides over €154,000 to support Palestinian House of Soap Company operating in the Jericho Agro Industrial Park (JAIP).
“Private sector is the engine of economic growth. It is an essential component for offering Palestinians employment and expanded economic opportunities. The EU together with Japan and the Palestinian Authority support the private sector in Palestine to promote economic, social and environmental development,” said EU Representative Ralph Tarraf. “Palestinian economic development is a major priority for the European Union. It is a guarantee of future prosperity and stability and an important component in state-building,” he added.
“The Government of Japan appreciates the partnership with EU and the Palestinian Authority to provide assistance for the tenants at the Jericho Agro-Industrial Park (JAIP)” said the Ambassador for Palestinian Affairs and the Representative of Japan to Palestine Takeshi Okubo. “We believe that JAIP could not only be a key perquisite for sustainable and resilient Palestinian economy, but could also play a crucial role in stabilization of the entire region. Acknowledging this, Japan has made commitment to the success of JAIP by implementing various related infrastructure projects as well as extending financial incentives for the eligible tenants of JAIP” he added.
To attract investment in the JAIP, the Palestinian Authority (PA) is offering a range of incentives, including tax breaks. The Partnership for Regional Investment, Development & Employment (PRIDE) programme, launched by the PA, provides financial assistance to JAIP tenants to help them start their operations. The European Union (EU) and Japan support this programme, offering financial assistance to eligible JAIP tenants to purchase equipment, machinery, tools and building materials for their operations. Funds are provided through PEGASE, with the EU contributing €2 million and the Government of Japan €3.2 million.
Palestinian House of Soap is the fifth company benefiting from the PRIDE programme. The company is providing local and international customers with skin care products made from olive oil and other natural ingredients. The raw material is fully supplied by Palestinian farmers, and the production process matches international standards.