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*“We are throwing a party, and the whole world is invited.”* Dr. Salam Fayyad, Prime Minister
“We are throwing a party, and the whole world is invited.”
Dr. Salam Fayyad, Prime Minister
Dear Investors:
The Palestine Investment Conference promises to be a historic event. As the first high profile investment conference ever held in Palestine, PIC-Palestine will jumpstart a process of integrating Palestine into the global economy.
The time has come to invest in Palestine. 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 private sector run, the Palestinian National Authority offers its full support and is working to make the conference a success. This conference will provide an opportunity to showcase the many promising investment opportunities in Palestine while strengthening public-private partnership and reforming the economy.
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.
Dr. Salam Fayyad Prime Minister
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Investment Climate in Palestine
PIC-Palestine-2008 aims to showcase the myriad of investment opportunities in Palestine’s different economic sectors. To this end, we have prepared links and documents geared towards describing the current investment climate in Palestine.
Introduction
Palestine is a market-based economy with tremendous investment potential. Though the Palestinian economy faces clear challenges, especially since 2000, it also has many advantages, including a forward-thinking, entrepreneurial, and talented private sector, and a rapidly growing and well-educated labor force.
The Palestinian business community is largely entrepreneurial in nature, with local businesses that aspire to a high-level of professionalism and product quality. Large enterprises are internationally connected, with partnerships extending to Europe, the Gulf, and North America.
The wealth of human capital is a valuable asset to the Palestinian economy. With a very young population, the work force is expected to expand significantly over the next several decades. This labor force is highly educated, multilingual, and well versed in the technologies and practices conducive to doing business on a global level.
In addition to future growth, Palestine already boasts a multitude of promising economic sectors ready for investment. The services sector, with the sub-sectors internal trade, transportation, tourism, and information technology, is rapidly expanding. The construction, manufacturing and mining, and chemical industries sectors are also thriving and promise fruitful investment opportunities.
At the Paris Donor’s Conference in December 2007, the international community pledged $7.7 billion in support of the Palestinian National Authority’s (PNA) Palestinian Reform and Development Plan (PDRP). The PRDP aims “to facilitate the prioritization and harmonization of policies, plans and resource allocation, and to encourage fiscal discipline.” This renewed international support for the PNA will eventually help improve the investment climate in Palestine and mobilize both local and international investment in the Palestinian private sector.
The PNA has also taken steps to facilitate and increase foreign trade by signing free trade agreements with the European Union, the European Free Trade Association (EFTA), the United States, Canada, and Turkey. The PNA has finalized other trade agreements with Russia, Jordan, Egypt, the Gulf States, Morocco, and Tunisia.
The diversification of the Palestinian economy and the improvement of the investment climate, which already attracts important business leaders from across the globe, are testaments to the resourcefulness and creativity of the Palestinian people. They also reflect a global commitment to a region determined to achieve stability and prosperity.
Sources: The Palestine Economic Policy Research Institute (MAS): Investment Guide to Palestine 2008; Palestine Investment Promotion Agency (PIPA) www.pipa.gov.ps; The Palestine Reform and Development Plan (Paris Donor’s Conference paper)
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*/PIC-Palestine-2008 Conference Objectives include: /*
* Showcasing business opportunities and projects ready for launching;
* Demonstrating high-level political commitment from the Palestinian
Authority to the investment-led growth of the Palestinian economy;
* Educating and informing potential investors regarding the local
investment climate;
* Challenging popular perceptions about doing business in Palestine;
* Promoting promising investment opportunities in a variety of sectors;
* Showcasing the business success stories of Palestine;
* Creating linkages between Palestinian and international businesses;
* Initiating an ongoing dialogue between the Palestinian government,
the Palestinian business community, and international investors; and
* Building momentum for the removal of barriers that hinder
partnership between Palestinian businesses and the international
business community.
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Dear Investors:
It is my pleasure to serve as chair of the Steering Committee for Palestine Investment Conference, PIC-Palestine. The Palestinian National Authority (PNA) considers PIC-Palestine a high priority and offers its full support towards ensuring its success.
The organizing committee extends a warm welcome to investors from the regional and international community to Palestine. As the culmination of an historic public-private sector partnership, PIC-Palestine aims to promote investment in Palestine. Supported by the public sector, and encouraged by the PNA reform plan presented at the Paris Donor’s Conference last December, the private sector is ready to take the lead in developing the Palestinian economy.
Palestine offers a multitude of investment opportunities in its various economic sectors. With an enterprising private sector and a well-educated and expanding labor force, the Palestinian economy is poised to benefit from direct investment.
We invite you to learn more about investing in Palestine on May 21-23 in Bethlehem, Palestine, and look forward to seeing you there.
Mohammad Kamal Hassouneh Minister of National Economy Chair of the Steering Committee
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Dear Investors:
We are delighted to invite you to the Palestine Investment Conference, hosted in Bethlehem, Palestine from 21-23 May 2008.
The vision of PIC-Palestine has inspired support across the public and private sectors, both locally and internationally. Thanks to this cooperation, and combined with a talented and dedicated staff, PIC-Palestine promises to be a fruitful start to a process of investment-led economic growth for Palestine.
PIC-Palestine will be an exciting three days. Not only will participants have a chance to examine a multitude of promising investment opportunities in Palestine, they will also be treated to a variety of exciting speakers and cultural events. All of this will be held in Bethlehem, a city treasured by much of the world.
We thank you for your interest in this conference, and look forward to seeing you in May.
Dr. Hasan Abu-Libdeh CEO PIC-Palestine