reporting

West Bank: entrepreneurs “think of opening businesses abroad rather than here”

The war weighs heavily on the economies, both Israeli and Palestinian.

Businesses are slow because in business the ties between the two sides were strong.

But October 7 could permanently damage this relationship, and since then, the outlook for the Palestinian economy has been bleak.

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Since October 7, the timber trading company of manager Salem Manoly, in the West Bank, has lost 70% of its turnover.

© Guilhem Delteil / RFI

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With our special correspondents in Beit Sahour,

Nicolas Benita & Guilhem Delteil

In Beit Sahour near Bethlehem, in his carpentry workshop, Rafat Houary has now returned to work.

But after October 7,

he experienced technical unemployment

.

“

Nobody wants to build kitchen furniture or bedroom furniture or anything.

The first month, we lost 100% of our turnover.

Since then, we have started working again

,” says the carpenter. 

Activity is picking up little by little.

But the current war will leave lasting marks, believes Salem Manoly, head of a large timber sales company 

in the Palestinian Territories

and Israel.

“

After this war, there will be a lot of changes in all areas.

Relations between Israelis and Palestinians will no longer be the same.

Before the war, relations were always difficult politically.

But in business, we only had one heart

,” says the business leader. 

Entrepreneurs “don’t have confidence in the situation”

Since the start of the war, territory controlled by Israel has been closed to tens of thousands of Palestinian workers.

The Jewish state

 has control over the borders and therefore Palestinian imports and exports;

and the same currency regulates exchanges.

Palestinian wages supported the West Bank economy.

Salem Manoly is also worried about capital flight.

“

There is another problem today – and it is a big problem – that Palestinians and Israelis who have a little money are now thinking about opening businesses abroad, rather than here .

They don’t have confidence in the situation

,” he laments. 

In his entourage, assures Salem Manoly, between 40 and 50 people have already invested in real estate in Cyprus or Greece to guarantee monthly income.

Read alsoWest Bank: Palestinians denounce a situation of apartheid

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