Gaza's gross domestic product (GDP) has contracted by 86 percent year on year in the first three months of 2024 amid intensifying Israeli attacks, according to data released by Palestinian Central Bureau of Statistics (PCBS) on Thursday.
The PCBS statement shows that the GDP of Palestine in the first quarter of 2024 declined by 35 percent year on year, while that of the Gaza Strip sharply shrank by 86 percent due to ongoing Israeli attacks, indicating that the local economic system has collapsed.
The West Bank also saw a year-on-year contraction by 25 percent.
Palestine's GDP per capita was 491 U.S. dollars in the first three months of 2024, down 36 percent compared to the same period of last year, with that of the Gaza Strip decreased by 86 percent.
Gaza's GDP contracts 86 pct amid Israeli attacks
Gaza's GDP contracts 86 pct amid Israeli attacks
The head of a Vietnamese car dealership is hopeful that Chinese President Xi Jinping's visit to the Southeast Asian country can help strengthen business ties between the two nations and attract greater Chinese investment to Vietnam.
Xi arrived in Vietnam on Monday for a two-day state visit at the invitation of General Secretary of the Communist Party of Vietnam (CPV) Central Committee To Lam and Vietnamese President Luong Cuong.
The visit coincides with the 75th anniversary of the establishment of diplomatic ties between China and Vietnam, as well as the China-Vietnam Year of People-to-People Exchanges.
Nguyen Thi Diem My, the CEO of a dealership that distributes vehicles from Omoda and Jaecoo -- two sub-brands under Chinese automaker Chery Automobile -- expressed the hope that Xi's visit would lead to deeper business engagement between the two sides.
"We ourselves are a company that distributes a Chinese car brand in Vietnam. I think that when President Xi visited Vietnam, it greatly encouraged many Chinese businesses to visit and invest in Vietnam in the near future. I think, and I hope that after this visit, it will open up even more opportunities for cooperation between businesses from the two countries," she said.
Xi departed Vietnam on Tuesday to wrap up the first leg of a three-nation Southeast Asian tour, which will also see the Chinese president pay visits to Malaysia and Cambodia from Tuesday to Friday.
Vietnamese car dealer hopes Xi’s visit can boost business tie, encourage investment
