Country: West Bank and Gaza
Duration: 2021-2022
Themes: Strengthening the Business Enabling Environment
Cross Cutting Themes: Gender, Digital
Anticipated Impact Areas: Quality Jobs, Private Investment, Productivity
The Challenge:
West Bank is Gaza is a fragile and conflict affected economy with restrictions on trade and movement of goods and people across borders adding to economic challenges. Asset light sectors such as ICT have high potential for success, yet several factors are constraining foreign investment to the sector. High transaction costs in identifying business partners and understanding the business environment provide disincentives for international investors to seek business opportunities. International firms are likely to be dissuaded to explore opportunities due to perceptions of locational risks. The government has prioritized the development of the ICT industry and is trying to attract investments in the sector.
The Mission
Through funding from C-JET, a grant is being implemented by the World Bank to support the development of evidence-based value proposition for the IT services sector in West Bank and Gaza. Activities under the grant will support the design and implementation of a targeted investor outreach campaign to attract investments in the IT services sector, including support with the identification of potential target markets and firms. The grant will also support strengthening service provision capabilities of authorities to IT investors. Through these activities and more, this grant aims to contribute to facilitating new investment in IT sector to catalyze more and better jobs in the tech industry.