Jobs Provided
For Palestinians
The Clinton administration an-
nounced the inauguration of the
first large-scale American corpo-
rate investments in the territo-
ries.
Ten new ventures will be start-
ed immediately, totaling a $280
million investment and creating
5,000 permanent and temporary
Palestinian jobs, Vice President
Al Gore told a press conference.
"The hope and promise creat-
ed last year are being translated
into economic development," Mr.
Gore said. "This is the first in a
series of what we hope will be
profitable new business ex-
changes."
The business deals are an out-
come of the formation of Builders
for Peace, comprised of Jewish
and Arab-American business-
men. The organization was cre-
ated soon after last September's
signing of the Declaration of Prin-
ciples.
The $280 million initial in-
vestment includes $100 million
in construction costs and $180
million in annual operating ex-
penses, Builders for Peace offi-
cials said.
Although Jewish and Arab
businessmen in the United States
had expressed interest since last
fall in investing in the territories,
deals were not finalized until the
May 4 Cairo signing of the com-
prehensive Israeli-PLO accord,
Builders for Peace co-chairman
James Zogby said.
The five projects include a
spring-water bottling plant for
Culligan International Corp. of
Northbrook, Ill.; a furniture fac-
tory by Amtec International of
Greenville, N.C.; two hotels by
SAFA International of Glendale,
Cal.; a hotel by GRDG Interna-
tional of Fairfax, Va.; and a fac-
tory for making construction
materials by Bucheit Interna-
tional of Youngstown, Ohio.
Asked why he was investing
$7 million in a new furniture fac-
tory in the territories, Moham-
mad Oweis of South
Carolina-based Amtec Interna-
tional said: "I thought, 'Why don't
I do something to contribute to
the peace process and to Pales-
tinian labor? Money is an issue,
too. I would not do this for na-
tional reasons and then lose mon-
ey."
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