On Tuesday 29 April, Rice convened a press event in Washington, as the State Department reported in a press release, “to discuss the Israeli-Palestinian peace process and the strategic importance of U.S. private sector investment in the West Bank. She was joined by leaders of the U.S.-Palestinian Partnership including Chairman Walter Isaacson, Co-chairs Jean Case and Ziad Asali, and USAID Administrator Henrietta Fore. The Partnership is working to support the Palestinian Authority’s upcoming Palestine Investment Conference, which will be hosted by Prime Minister Fayyad on May 21-23, in Bethlehem. The purpose of the conference is to showcase investment opportunities in the Palestinian territories and thereby improve the economic and social living standards through increased investment in the Palestinian economy”.
The State Department press release added that the U.S.-Palestinian Partnership “is developing quick-impact projects to promote job creation in the West Bank; projects include the creation of an Arabic-language call center in East Jerusalem and the establishment of a mechanism to attract foreign investment in the Palestinian private sector. The Partnership is also working to launch five youth development and resource centers in the West Bank”.
Rice said at the Washington press event that, as part of the Annapolis process, “there is also a very strong commitment to do something about the economic prospects for the Palestinian people, a people who are very well educated, many of them, very ambitious, many of them, but where economic opportunity has very often been lacking”.
Rice is also expected to try to rally support for the investment conference while she attends a meeting of donors to the Palestinian Authority, and with the Quartet, in London on 1-2 May.
The website of the Palestine Investment Conference, here , contains a greeting from Palestinian Authority Prime Minister Salam Fayyad, saying “We are throwing a party, and the whole world is invited. This conference is a chance to show a different face of Palestine: a Palestine conducive to economic growth and international investment. I welcome you to Palestine for a chance to enjoy our hospitality, and to learn first hand that you can do business in Palestine”.
Fayyad’s website greeting also says that this will be the “first high profile investment conference ever held in Palestine”, and that “it promises to be a historic event”. Fayyad added that the conference “will jumpstart a process of integrating Palestine into the global economy”.
“The time has come to invest in Palestine”, Fayyad added. “The international community showed its overwhelming support of the Palestinian economy in Paris last December, and PIC-Palestine intends to continue this process of creating an environment conducive to investment-led growth”.
While the conference is a private sector event, it will have full support from the Palestinian Authority, Fayyad said.
The Israelis have promised to facilitate the entry of investors to attend this conference.