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Turkey, Palestine sign MoU providing 6,000 vacancies

Turkey, Palestine sign MoU providing 6,000 vacancies
The Turkish Minister of Science, Industry, and Technology Fikri Isik has recently signed a mutual memorandum of understanding (MoU) with the Palestinian Deputy Prime Minister and National Economy Minister Mohammed Mostafa to establish a tax-free industrial zone in Palestine’s Jenin, reported a news agency.

The industrial zone is projected to be constructed by The Union of Chambers and Commodity Exchanges of Turkey (TOBB-BIS Inc.), also known as TOBB.

Moreover, the Zone is anticipated to be completed by 2015.

"This will not only be an organized industrial zone, but a free zone as well, offering unique and massive advantages to all investors, whether they are Turkish, Palestinian or other," Board Chairman of TOBB Ahmet Sekeroglu told the Anadolu Agency.

"Investors will not pay any taxes. Moreover, they will be getting significant support from Turkey, Germany and the U.S.," Sekeroglu noted, adding "The businesses will be insured by the World Bank, too."

Noteworthy, the Jenin Organized Industry Zone will be built on a land space of 920,000 square meters, 30 kilometers far from the Jordan-Palestine border, according to TOBB.

The tax-free zone, which is expected to provide 6,000 vacancies, is supported by the German government.

The project is projected to be Turkey's 281st organized industrial zone.