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2012-01-19
The CEO of Palestine Development and Investment PADICO announced that there are efforts to list Palestine Exchange Company in the PEX Stock Market for trading. He expected to complete this process during the first quarter of 2012. Hulileh added that Palestine Exchange Company is a public shareholding company since February 2010, and the process of the listing is in progress since it will not face any faltering but to the contrary there is a considerable care and attention to this issue by official regulatory bodies. He expressed his grateful to the PEX’s achievements and ability to win the investors’ confidence since its investment environment is secure and stable despite the challenges and crises in the region.
Hulilieh said that investing in Palestine Stock Exchange is a unique experience for both who invest regionally and internationally. It has overcome all crises and maintains its stability during the crises when many Arab and international markets collapsed. The PEX is the only stock market that has not been affected by the international financial crises, and the least Stock market declining in the previous year.
He pointed out to the importance of identifying the problems and obstacles facing the PEX and investing activities and the need to work in partnership with everyone especially the Palestinian Authority to overcome the challenges, in order to provide more attractive investment environment for Arab and foreign investors. He said that there are many political and economic obstacles facing the PEX , in which may affect the local and international investors’ confidence ,adding that the PEX had many achievements in 2011 such as launching “Rasmala Fund” for the Palestinian shares and listing Palestine Telecommunications PALTEL’s shares in “Standards and poor” and “ Dow Jones”. Hulileh emphasized the need to strengthen the investment environment in Palestine to comply with the encouraging investment opportunities, noting the importance of taking all legal and legislative actions to make Palestine more attractive to new investments.
Hulilieh Also added that Palestine with its various economic sectors faced many political and economic crises but was able to maintain its stability and convert these challenges into opportunities and exclusive experiences, forming a basis for its success, especially in the telecommunications and tourism sector and other sectors that maintain their growth and profitability. He asked to review all the laws and procedures that stand as a barrier to attract Arab and foreign investors to the stocks market.
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