Iran's six month agreement with P5 + 1, Egypt's transition after the ouster of Mohammed Morsy and Syria's long and catastrophic civil war have nudged a plan to revitalize the Palestinian Territories right off the global agenda.
I was in the room when U.S. Secretary of State John Kerry unveiled, on the evening of May 26, what he saw as an ambitious plan to deliver hope to Palestinians by jump-starting investment. His speech closing out the World Economic Forum regional meeting at the Dead Sea in Jordan was met with a heavy dose of skepticism because it lacked specifics.
Kerry presented an economic road-map, calling for $4 billion of private investment covering eight sectors from agriculture to tourism. If you build the right framework, according to the top U.S. diplomat, investors will come. The goal is to boost the economies of the West Bank and Gaza by up to 50% in just three years.
While no one can really argue with the spirit of the economic initiative, the reality on the factory floor, whether it is light manufacturing or in telecommunications, is very different. Palestinian businessmen suggest it is time to be more holistic in the approach. One cannot divorce the peace process from business. FULL POST
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