Cisco to sponsor first Palestine Investment Conference

Cisco supporting conference to encourage business investment in Palestine

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By  Quintin Smith Published  April 24, 2008

Cisco Systems has announced its sponsorship of the first Palestine Investment Conference (PIC).

The event will take place in Bethlehem on the 21st-23th of May, and is set to introduce investment opportunities in Palestine to the Palestine Diaspora, the Arab business world and other regional and international investors.

The idea for the event came after the international donor community’s December 2007 pledge for $7.7 billion to go towards social and economic development of Palestine. The event organisers have said they’re ‘delighted’ at Cisco’s decision to come aboard, and that the support has been echoed in other potential participants.

Dr Hasan Abu-Libdeh, CEO of PIC-Palestine said of the event: “We are not ignorant about the difficulties facing Palestine, let alone the particular difficulties facing the business community, but we are not resigned to them. Palestine is characterized by an attitude of ‘can-do’. And what we want to say is that the Palestinian private and public sector is serious about saying, ‘We are open for business’.”

Yvon Le Roux, Cisco’s vice president for Africa and Levant Region said: “With Cisco’s support, we are going to challenge the perception of Palestine and demonstrate that our business environment is well supported by technology and practices conducive to doing business on a global level. Palestine boasts a multitude of promising economic sectors ready for investment: transportation, tourism, and information technology, are all rapidly expanding sectors.”

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