June 2, 2010
U.S. Deputy Secretary of the Treasury Neal S. Wolin
Remarks as Prepared for Delivery at the Palestine
President Abbas, Prime Minister Fayyad, members of the Cabinet, on behalf of
President Obama and the U.S. delegation let me express our deep thanks for the
opportunity to be here today.
And thank you to Jafr Hdeib, CEO of the Palestine Investment Promotion Agency,
and to Hassan Abu Libdeh, Minister of National Economy, for organizing this
Two years ago, representatives from across the Middle East and around the world
gathered here in Bethlehem for the first Palestine Investment Conference. That
conference – like this one – was both an invitation and a declaration:
An invitation to investors – from the Arab world, and from the United States,
Europe, and Asia – to come to the West Bank to help unlock the tremendous
economic potential latent here;
And a declaration that the Palestinian economy is open for business; that the
Palestinian people and their government are committed to laying the foundation for
an economically viable state, where private enterprise can thrive.
Representatives from the United States, including my predecessor as Deputy
Secretary of the Treasury Department, were proud to participate in that first
conference. And we are pleased to join with you again this year.
President Abbas and Prime Minister Fayyad, I commend your government's
commitment to creating an enabling environment for business and investment, and
to building the institutions that support economic growth, as promised in the
Palestinian Authority's two year plan.
The legislative agenda you have just announced represents an important step
forward. When fully implemented, that legislation will make it easier for foreign
investors to put their capital to work in the Palestinian economy. And it will make it
easier for Palestinian entrepreneurs – and small and medium size enterprises in
particular – to access the credit they need.
At the sa