Arafat aides launch new bid for foreign investors

[Reuter / Bernard Edinger]

PARIS (Reuter) - Top advisors to Palestinian President
Yasser Arafat made a new bid Thursday for foreign investment but
acknowledged they themselves were uncertain of the future
because of Israel's new rightist government.
``Undoubtedly, the arrival in power of (new Israeli Premier)
Benjamin Netanyahu will have economic as well as political
consequences,'' said Ziad Abdel Fattah, visiting head of the
Palestinian WAFA news agency.
``I must say Netanyahu's statements so far were a bad start
as far as we are concerned. I am rather pessimistic,'' said
Fattah, in Paris to launch the Palestinian Economic News Letter.
Arab leaders are meeting in Cairo at the weekend to discuss
their fears that Netanyahu may halt the peace process.
The monthly, in English, Arabic and French editions, seeks
to inform investors of possible opportunities in autonomous
Palestinian areas.
It is jointly produced by WAFA and Paris-based Strategic
Policies and Development Advisors (SPDA), an agency created by
Arafat three years ago.
SPDA President Gabriel Banon was more cautious. ``It's too
early to say what Netanyahu's policies will be but I am sure the
situation will clarify within days or weeks rather than years
because the world wants movement and the success of Palestine's
economy is a basic condition for peace.''
Banon, handpicked by Arafat to head SPDA, is a Casablanca-
born French-Jewish businessman and father-in-law of Pierre
Lellouche, a French parliamentarian and strong backer of Israel
who was a long-time advisor to President Jacques Chirac
The newsletter's co-editors are Palestinian journalist Hazza
Taha and Stephane Trano, former political editor of the French
Jewish weekly Tribune Juive.
Banon, who heads companies in several countries including
the United States, said investors in Gaza and the West Bank
would find trained engineers, technicians and factory personnel
who were qualified and adaptable.