UAE Investors Lured by Strong Economic Growth in Palestine Pegged at 7 Percent for 2010

High-level two-day road show to highlight investment opportunities in Palestine

Monday, May 17, 2010 - Abu Dhabi

The International Monetary Fund (IMF) stated that economic growth in the Palestinian Territories in 2010 would reach around 7 percent and touch 10 percent by 2012 – 2013.

Ahmad Aweidah, Chief Executive Officer, Palestine Securities Exchange (PSE), said: “We are delighted with the positive response received from UAE-based investment communities. Through this road show, we plan to highlight what we believe is a good investment opportunity in Palestinian equities.”

This road show is part of a global effort to draw UAE share-holders to the Palestine Securities Exchange and raise the bourse’s international profile. The event also aims to attract tangible investments into the listed companies and the Palestinian economy in general.

The PSE is based in the cities of Nablus and Ramallah in the Palestinian West Bank, which has in recent years benefited from political stability and rapid economic growth.

The road show is being conducted in association United Securities and the Palestine Business Council. The event is held today, May 17th, 2010 at Hotel Intercontinental, Abu Dhabi.

-ENDS-
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About the Palestine Exchange (PEX):

The PEX is a private shareholding company that was established in 1996 and held its first trading session on the 18 February 1997. The PSE operates under the supervision of the Palestinian Capital Market Authority and in accordance with the Securities Law No. (12) 2004 and its bylaws, in addition to modern regulations, which form a strong basis that ensure a fair trading environment. Today, there are ninety three (93) companies are listed on the PSE across five main economic sectors; banking, insurance, investments, industry and services.

There are no restrictions on foreign investments at the PSE or on Foreign Exchange by the Palestinian Monetary Authority. HSBC Middle East provides global custody services to interested foreign clients.