Program and Events
Palestine Investment Conference Set for May 21-23
U.S to Support the Creation of Economic Opportunities for Palestinian Investors
In May, the Palestinian Authority is convening the Palestine Investment Conference, in an effort to improve economic and social conditions in the territories, which is a critical component of the broader Middle East peace process.
Walter Isaacson, chairman of the U.S.-Palestinian Partnership and president of the Aspen Institute, says partnership members will attend the May 21-23 business conference in the West Bank city of Bethlehem with the aim of increasing investment in the Palestinian economy.
The joint effort by the U.S. government, private businesses, civic leaders and the Palestinian Authority to help create jobs and educational opportunities for Palestinians was announced December 3, 2007, by President Bush. The investment component is part of an intensive diplomatic initiative, begun at the November 2007 Annapolis Middle East peace conference, that is intended to lead to Palestinian statehood.
Secretary of State Condoleezza Rice said at an April 29 briefing that the Annapolis conference envisioned developing the Middle East peace process on a number of tracks. One track is to bring about establishment of a Palestinian state living side by side with Israel, she said.
"There is also a very strong commitment to do something about the economic prospects for the Palestinian people," she said. "That effort, with [the Quartet’s special envoy] former [British] Prime Minister Tony Blair and our contribution to the international effort, the U.S.-Palestinian Partnership, is well under way."
Isaacson said that the public-private partnership has made a number of advances on the business development component, including developing a call center that would work in the east part of Jerusalem, where there has been substantial unemployment but where there is also a well-educated population. The call center would provide a much-needed link with global businesses to reach Arab markets, he said.
"We also had a good exchange this morning on trying to set up some concept for a venture fund where people can invest in the West Bank," Isaacson said after the partnership met with Rice. "This would complement something that's already been launched, which is the Middle East Investment Initiative {MEII], which supplies small business loans for ... $50,000 to almost up to $500,000 now for businesses operating in the West Bank."
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