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Palestinian-American entrepreneur to invest in Gaza

Aug. 14, 2014 9:27 P.M. (Updated: Aug. 14, 2014 9:27 P.M.)
JERUSALEM (Ma'an) -- Prominent Palestinian-American businessman Farouk Shami announced Wednesday a decision to build a university, mosque, and a branch for his hair-care company Farouk Systems in the Gaza Strip.

According to a statement by the Diaspora Affairs department of the Palestine Liberation Organization, Farouk Shami announced his decision Wednesday following a meeting with active members of the Palestinian community in the United States.

Shami's decision to invest in the Gaza Strip, according to the statement, stems from his willingness to help develop the Palestinian economy and create job opportunities through practical steps.

This willingness, has been strengthened after the Israeli military offensive against the coastal enclave which destroyed facilities and infrastructure, greatly increasing unemployment.

The intended university, according to the PLO statement, will have close relations with the Farouk Systems factory to be created in Gaza. A portion of the factory's profits will cover the running costs of the university, whose students will be entitled to training and employment at the factory.

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