15.1 Definition of Bioeconomy by Palestine
The bioeconomy, also referred to as the biobased economy, is a novel approach to business and the economy. It also utilises the untapped potential present in millions of tonnes of biological waste and leftover materials. It entails the sustainable production of food, energy, and industrial goods through the use of renewable biological resources.
The region’s political and economic issues have a big influence on how the bioeconomy develops. Progress may be hampered by the Israeli-Palestinian conflict, restricted access to resources, and inadequate infrastructure.