The US-Palestinian Partnership (UPP) focuses its efforts on stimulating the economy through sustainable economic development, job creation and training, and attracting foreign investment in the West Bank. The partnership is developing a number of quick-impact projects that will promote a sustainable Palestinian economy.

Drawing on the knowledge and experience of our co-chairs and the U.S. and Palestinian government, the Partnership focuses its efforts on three economic sectors:

1.   Information and Communication Technology Sector:

The Partnership’s efforts to create jobs and encourage investment in the Palestinian ICT sector include:

• Promoting outsourcing to Palestinian software companies
  Using Cisco’s proven outsourcing model, which gives ICT contracts to high-level Palestinian companies, UPP is working to secure additional Palestinian companies to be contracted by Cisco and encouraging American companies to employ the model and provide additional contracts.
• Middle East Venture Capital Fund (MEVCF)
  Once operational, the $50 million MEVCF will invest in early stage Palestinian ICT companies to catapult the sector into growth and job creation. With the support of UPP, the MEVCF secured investment of about $7 million from the European Investment Bank. UPP continues to seek additional investments by American entities and individuals in 2010.
• ICT Incubation
  In 2010, UPP will support the launch of a robust Incubation Project that will include training and mentorship for Palestinian ICT leaders and entrepreneurs by U.S. ICT leaders.

2.   Hotel and Tourism Sector

The Partnership is pursuing multiple opportunities in the hotel and tourism sector, including the creation of tourism packages that will expand the flow of tourism to Israel and the West Bank and explore investment opportunities to increase diversity and volume of hospitality facilities. One priority project is the facilitation of a University Partnership between the Conrad Hilton College at the University of Houston and the Bethlehem University School of Hospitality, which will include assistance in curriculum, job placement and online training.

3.  Agribusiness Sector

The Partnership is exploring successful export models employed in the United Kingdom and elsewhere to bring Palestinian produce and products to U.S. markets and seeking market linkages between U.S. hotel chains in the Middle East and Palestinian agribusiness companies. Early initiatives include:

• Advances in technology
  UPP is helping Palestinian agribusiness companies to explore the implementation of American technology that will allow them to extend the shelf life of their products and enable potential exports to U.S. markets.

The Partnership’s early success include encouraging economic investment through support of the Palestine Investment Conference in Bethlehem, which drew more than 1,000 attendees and raised $1.4 billion in investment commitments, and continuing to cultivate business relationships and investment opportunities through the Palestinian Business and Investment Forum in Washington, D.C. In addition, quick impact economic initiatives like the Middle East Investment Initiative (MEII) are helping to stimulate economic activity, create jobs and expand home ownership in Palestine through a loan guaranty facility, an affordable mortgage program and political risk insurance. The Partnership supported the strategic development of opportunities for Palestinian youth in cooperation with the Palestinian Authority's Ministry of Youth and Sports by expanding Youth Development and Resource Centers (YDRCs) to prepare Palestinian youth for full and productive participation in Palestinian society.