(1888PressRelease)
May 28, 2008 - Wataniya Mobile announced yesterday during the Palestine Investment Conference that it had been informed by the Palestinian Ministry of Telecommunications and Information Technology (MTIT) that the Ministry had received assurances from the Israeli side that the spectrum frequencies that the company needs to operate will soon be released to the Palestinian Authority.
Wataniya Mobile also added that Mr. Tony Blair, the Middle East Quarter envoy, had also confirmed that the Israeli Government had agreed to release the frequencies to the Palestinian Authority, after a lengthy period of negotiations on the subject, and that the company was waiting now for the official written confirmation of this fact from the MTIT.
The announcement was made during a press conference on the second day of the investment conference in Bethlehem. Speakers at the press conference included his Excellency Mr. Kamal Hasouneh, the Palestinian Minister of Telecommunications and Information Technology, and Dr. Mohammad Mustafa, the CEO of the Palestine Investment Fund and the Chairman of the board of Wataniya Mobile, and Mr. Allan Richardson, the Chief Executive Officer of Wataniya Mobile.
At the conference, Dr. Mohammad Mustafa, the CEO of the Palestine Investment Fund said "We are looking forward to the completion and launch of the Wataniya Palestine network. Today, and on the margin of the Palestine Investment Conference, it gives me great pride to highlight one of the biggest private sector projects in Palestine which will have a major impact on the overall goal of creating a more sustainable and dynamic economy.
Dr. Mustafa added "This step today is as an assurance to our colleagues and friends who are with us today in Bethlehem that there are real investment opportunities in Palestine and that the PIF will continue to seek to attract more direct investments into Palestine and is willing to partner with foreign investors.
From his side, the Chief Executive Officer of Wataniya Mobile said "We are very happy to hear of the recent developments with the frequencies and will be working hard to meet the expectations of the Palestinian public from the second mobile operator"
Richardson added "Allow me to congratulate the Palestinian people today on the Palestinian economy's success in attracting such a large investment which will have a great impact on improving economic and commercial conditions in the country and on improving the quality of services provided to consumers as a result of competition."
Richardson also added" We expect Wataniya Mobile's investment to reach a total of $650 million in the next few years and that the company will generate more than 2500 new direct and indirect jobs in the country. The launch of the company will also initiate a new era of competition in the Palestinian Telecommunications sector in which the consumer will be the ultimate winner.
Wataniya Mobile was formed in December 2006 after its mother company Wataniya International (majority owned by the Qatari Telecommunications Company – QTEL) won a tender for the license to build and operate the second mobile network in Palestine. Wataniya Mobile is 57% owned by Wataniya International and 43% by the Palestine Investment Fund.
###
